Japan has reduced exports of stainless steel

According to the latest data released by the Japanese Ministry of Finance (MOF), stainless steel exports from the country declined in April this year compared to exports in the previous month.

Japan's exports of stainless steel products during April 2015 totaled 90,587 tonnes, down 18.5 percent from March when stainless steel exports from the country totaled 111,096 tonnes. Exports in March were very strong and increased by 24.7 compared to February, in which stainless steel exports totaled 89,091 tons. Therefore, we can say that export deliveries in April correspond to the average monthly level calculated for the entire 2015.

China was the largest export destination for Japanese stainless steel. Exports to China reached 16,856 tons, accounting for nearly one-fifth of Japan's total stainless steel exports for the month. However, exports from Japan to China fell 19.9 percent compared to exports in March 2015. This is likely to change for the better for Japanese stainless steel exporters to China, as one of the largest stainless steel factories in eastern China plans to close its hot rolled production line for 11 days of maintenance.

South Korea came in second with a total import volume of 18,715 tons. Exports of stainless steel products to South Korea decreased by 11.2 percent in relation to the volume of exports a month earlier. The third largest export destination was Taiwan. Japanese stainless steel imports to that country totaled 12,483 tons, down 4.4 percent from the previous month.

The average export price of stainless steel products in Japan during April 2015 was $ 3,357 per tonne, a slight decrease from the previous month, falling 1.9 percent. Japan's stainless steel exports generated total revenue of $ 341 million during the month, down from the $ 380.23 million generated in the previous month.