According to latest data released by the Japanese Ministry of Finance (MoF), the country’s stainless steel imports soared during the month of March this year, hitting record highs.
Japan’s total stainless steel product imports during the month totaled 22,793 tons, up 46.7% from the imports during the same month a year ago. The March ’14 imports were 14.2% higher when compared with the previous month. The monthly imports of stainless steel products by the country hit highs after July ’07.
The largest export source of imports of stainless steel products by Japan was South Korea. The imports from South Korea totaled 16,874 tons. The imports from South Korea to Japan jumped 41.3% when compared with the exports during March ’13. In second place was Taiwan with total Japanese imports of 2,711 tons. The stainless steel imports from Taiwan surged by 90.2% year-on-year. The stainless steel imports from China saw significant improvement of 57.7% year-on-year.
The MoF data also indicates that the country’s stainless steel exports increased during the month of March this year. Japan’s total stainless steel exports during the month amounted to 104,957 tons, up 11.6% from the previous month.