Steel imports rise in Japan amid falling exports in August 2014

Updated government trade data indicate that Japan's steel imports increased 1.2 percent in the month of August this year. On the other hand, steel exports from the country have been declining for the twelfth consecutive month.

According to the latest data, imports of steel from Asian countries to Japan totaled 543,000 tons, up 8.6 percent from imports in the same month last year. In addition, steel imports from China had a huge spike during the month of August at 141,000 tonnes, up 67.5 percent from the previous year. Imports from ASEAN countries increased 2.4 times to 23,000 tons. Imports of steel products from Russia also rose by almost 19 percent to 22,000 tons.

On the other hand, a huge drop in demand from Asian countries led to a decline in the country's steel exports during August 2014. This is the twelfth consecutive month in which steel supplies from Japan have declined. Exports of steel products from Japan totaled 3,520,000 tons in August, down 4.6 percent from last year.

Exports to Asian countries fell 6.3 percent to 2,730,000 tons year on year. At the same time, exports to China rose marginally by 0.8 percent year on year to 496,000 tons in August 2014. Deliveries to ASEAN countries decreased by 2.9 percent compared with exports in August 2013 to 1.14 million tons.