In Japan, exports and imports of steel decreased in January 2015

Statistics released by the Japanese Ministry of Finance (MOF) indicate that imports and exports of steel products in Japan declined during the month of January this year compared to the previous month.

Export of metal products of the country decreased by 10.2 percent in January 2015 to 3414 thousand tons, compared with the previous month. However, compared to the same month a year earlier, in January 2015, steel exports from the country increased by 4.2 percent. Steel export revenue was 336.40 billion yen, up nearly 10 percent from the previous year.

Japanese steel exports to the Asian region reached 2,612,000 tons, accounting for more than three quarters of the country's total exports during January 2015. Exports to Asian countries increased 0.8 percent for the year. However, exports of steel products to China fell sharply by 12 percent year on year for the month.

Japanese steel imports in January 2015 amounted to 713 thousand tons. Imports were down 2.3 percent from the previous month and 18.8 percent from the same month last year.

Imports from Asia reached 617 thousand tons, accounting for 86 percent of imports to Japan. Imports from Asia fell more than 17 percent during the month from the previous year. At the same time, imports from China increased by 0.6 percent to 178,000 tons. Imports from the United States are up 40 percent in a year to 1,000 tons.