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Japan’s steel exports during the first half of 2013 grew by 7.8%

 

According to provisional data released by Japan’s Ministry of Finance show that Japan’s steel products exported 22.2 million tons in the first half of 2013, an increase of 7.8%, the export value is 1.9 billion yen ($ 19.3 million), an increase of 9.7%.

The first half of this year, the Japanese steel product exports 1.1 million tons to the U.S, which compared with the same period felling 13.6%, exported 112,000 tons to the EU, down 44.6%, exported 3 million tons to China, down 2.3%. In addition, Japan¡¯s steel products exported 905,000 tons to Middle East and compared with the same period felling 8.8%, exported 7.1 million tons to Southeast Asian countries, an increase of 19.1%.

At the same time, from January to June of this year, Japan imported 3.35 million tons of steel products, down 11.1 % and the import value of 365.8 million yen ($ 3.7 million), down 12.3%. Six months before that, Japan imported 66.45 million tons of iron ore concentrate, an increase of 0.6% and the import value is 788.7 billion yen ($ 8 billion), down 3.9%.

Japanese deformed bar market bullish

With the recent price increases of Japanese steel mills, Japanese steel market bullish.

All long steel products of Tokyo Steel increased ? 3000 ex / t on Aug, and British public Steel and Kishiwada Steel will also raise the price in the same magnitude. Currently, Japan Tokyo basic specifications of the deformed bar market price remained at 6.0-6.1 ten thousand yen / ton ($ / ton), two consecutive months flat and then Osaka market price is 5.5-5.6 ten thousand yen / ton ($ / ton), an increase of 1000 yen /ton than early July. After the price increase, British public Steel¡¯s August target price is 58,000 yen / t ($ / ton) and the company said that will be further increased to 60,000 yen / t ($ / ton) in September.

The insiders believes that although the construction companies are resisting steel mill¡¯s greatly increases, but now  in order to purchase Autumn construction materials, as well as by the impact of yen, thus other material costs are also on the rise. On the other hand, due to some projects start soon, construction companies have to accept a higher offer. In addition, H steel section and other varieties of steel prices also increased, thus the deformed bar prices have support. Therefore, the steel price increases is very likely to achieve. It is expected to Japanese deformed bar market will steadily rise during short-term.

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