By Anil Mathews (ScrapMonster Author)
May 03, 2016 02:58:48 AM
TOKYO (Scrap Monster): According to latest data released by the Japanese Ministry of Finance (MoF), the country’s stainless steel exports rose sharply during the month of March this year. This is when compared with the exports during the previous month.
Japan’s stainless steel exports during the month of March totaled 89,351 tons, rising significantly by 18.1% from the previous month. The country’s stainless steel exports had totaled 75,645 tons during February this year.
The largest export destination of Japanese stainless steel was China. The exports to China totaled 17,746 tons, constituting nearly 20% of the total stainless steel exports by Japan during the month. The exports from Japan to China surged higher by 33.2% when compared with the exports during February 2016. In second place was South Korea with total imports of 14,429 tons. The stainless steel exports to South Korea increased considerably by 11.1% month-on-month. The third largest export destination was Taiwan. The country’s imports of Japanese stainless steel totaled 9,897 tons, increasing by 67% over the previous month. The Japanese stainless steel exports to the US were up by 15.1% month-on-month to 3,501 tons.
The average export price of stainless steel from the country during Mar ‘16 was $3,200 per ton, rising modestly by 3.7% when compared with the previous month. The exports of stainless steel amounted to $2.859 billion during the month.