Japan Increases Exports of Hot Rolled Steel

According to statistics released by Japan's Ministry of Finance (MoF), the country's hot rolled coil (HRC) exports rose sharply during the month of November last year.

Ministry of Finance data show that HRC exports in the country totaled 920,537 tonnes during the month, up 11.7 percent from exports in the same month last year. Exports in November 2013 amounted to 824,115 tons. Compared to the previous month, exports of hot rolled coils from the country in November 2014 increased by only 0.8 percent. Japan exported 913,230 tons of HRC in October last year.

Export prices for Japanese-made hot-rolled coils during November 2014 averaged $ 548.30 per tonne. Average prices fell 4.6 percent from the previous month. On an annual basis, HRC's average export prices declined 7.3 percent compared to the same period in 2013, mainly due to lower demand in China. In addition, South Korea did not have a stable imports of hot rolled coils throughout 2014, and this country is the main importer of HRC from Japan.

The largest export destination for Japanese hot rolled coils in November 2014 was South Korea. Exports to South Korea amounted to 208,556 tonnes at an average price of USD 529.00 per tonne FOB. Taiwan was the second largest importer of Japanese HRCs. Exports to Taiwan amounted to 57,018 tons. The average export price to Taiwan was $ 514.20 per tonne FOB.