By Anil Mathews (ScrapMonster Author)
October 29, 2015 01:52:08 AM
According to data released by the Japanese Ministry of Finance (MoF), the country's steel products export dropped sharply during September this year.MoF: Japan's steel exports fell 11% in September
TOKYO (Scrap Monster): According to data released by the Japanese Ministry of Finance (MoF), the country’s steel products export dropped significantly by 3.7% in September over the previous month. The country’s exports totaled 3,303 thousand tons (t/t) during the month, which was 10.9% down when compared with the exports during the same month a year before.

The exports generated 289 billion Japanese Yen during the month. The steel products export revenue dropped sharply by 17% when compared with those during the same month a year before. The exports of steel products had generated revenue of Yen 348 billion during September last year.

The steel exports to Asian region totaled 2,608 t/t, down 8.9% when compared with the exports during September 2014. Of these, the exports to China fell by 18.3% year-on-year to 411 t/t. Japanese steel exports to ASEAN countries totaled 1,050 t/t, registering yearly drop of 2.7%. The exports to the Middle East region fell sharply by 38% over the year to 82 t/t. The exports to the USA were down 27.1% to 175 t/t and those to the EU region were up 17.1% to 27 t/t in September this year. Meantime, exports to Russia plummeted 90.6% to just 2 t/t during the month.

Also, the imports of steel products during the month of September this year totaled 673 t/t, marginally up by 0.1% when compared with the previous month. Year-on-year, the imports dropped heavily by 11.8%.

Meantime, Japan’s imports of steel products from Asian region were down by 9.4% in September this year upon comparison with the previous year. The imports from Asian region totaled 561 t/t during the month. The imports from the EU region plunged 11.8% to 10 t/t during the month of September this year.