steel exports resumed their upward trend in August, rising 1.3
percent year on year and 2.4 percent month on month to 3.69
million tonnes, after taking a breather the previous month, the
latest data from the countrys finance ministry shows.
The increase came
despite falling shipments to key Asian markets as Japan ramped
up exports to alternative destinations such as the European
Union, the United States and Russia, all of which registered
big gains but on relatively small volumes.
In contrast, shipments
to Asia logged a 1.3 percent year-on-year decline to 2.91
million tonnes, but marked a 1.7 percent increase compared with
Japans largest marketthe newly industrialized
economies of South Korea, Taiwan, Singapore and Hong
Kongtotaled 1.09 million tonnes, down 0.4 percent year on
year and 2.6 percent from July.
Shipments to the
Association of Southeast Asian Nations also fell by 2.7 percent
year on year to 1.17 million tonnes. However, exports were up
5.4 percent month on month.
Shipments to China
fell 5.4 percent from August 2012 and 1.8 percent from July to
Export volumes, which
are set to hit their highest levels in more than a decade this
year, rose despite a fall in production. After five months of
increases, crude steel output dropped 1.5 percent last month
vs. July and 0.6 percent from a year earlier to 9.14 million
tonnes, according to the Japan Iron and Steel Federation.
edged up 0.5 percent year on year to 638,528 tonnes, but fell
1.5 percent from July.
Inbound shipments from the newly industrialized economies
rose 2.7 percent year on year to 380,852 tonnes, but fell 3.7
percent from July levels.
A version of this
article was first published in AMM sister publication Steel