Date: 2 months ago   Category: Society

Japan sharply increased steel import


Steel import to Japan in October grew by 34.5 percent in comparison with September and for 25.7 percent year on year, the preliminary data of the Ministry of Finance of Japan published last week demonstrate. Traders explain to

the sharp growth of steel import to Japan with the postponed deliveries because of typhoons in September.

Is expected that races of growth of import will be single, but many clients even more often look at import as the main source for replenishment of stocks as the offer from internal sources is limited after suspension of operation of the largest blast furnace of the country.

Second the largest in Japan integrated producer of JFE Steel steel temporarily closed the blast furnace in the Western Japan on October 23. The company plans to return to the level of average annual production by the end of December, but as earlier it was reported, supply of steel will be reduced by 400 thousand tons.

Steel import to Japan from South Korea grew by 13.7 percent in comparison with previous year and for 28.8 percent since September to 337,028 tons, from China - for 49.8 percent in comparison with previous year and for 19.4 percent in comparison with September up to 135.750 tons, and from the ASEAN countries - for 174.3 percent year on year and for 115 percent in comparison with September up to 73,484 tons, the latest preliminary data demonstrate.

according to Platts, the average import price of Japan of steel was 1,092 US dollars for ton.

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