Author: Paul Ploumis
06 May 2015 Last updated at 01:56:32 GMT
TOKYO (Scrap Monster): According to latest data released by the Japanese Ministry of Finance (MoF), the country’s stainless steel exports surged higher 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 111,096 tons, rising 24.7% from the previous month. The country’s stainless steel exports had totaled 89,091 tons during February 2015.
The largest export destination of Japanese stainless steel was China. The exports to China totaled 24,043 tons, constituting more than one-fifth of the total stainless steel exports by Japan during the month. The exports from Japan to China increased sharply by 41.3% when compared with the exports during February 2015. In second place was South Korea with total imports of 21,199 tons. The stainless steel exports to South Korea jumped higher by 11.4% month-on-month. The third largest export destination was Taiwan. The country’s imports of Japanese stainless steel totaled 13,064 tons, increasing by 20.7% over the previous month.
The average export price of stainless steel from the country during Mar ‘15 was $3,423 per ton, falling sharply by 6.7% when compared with the previous month. The exports of stainless steel generated total revenue of $380.23 million during the month.