Japan's steel imports hit record in September

According to data from the Ministry of Finance, Japan's steel imports rose to nearly 641,000 tons in September 2024, the highest monthly volume this year. This figure represents a 21.8% increase compared to August and a 0.6% increase compared to the same period last year.

Steel imports from Asia reached 564,000 tons, accounting for the majority of total imports. However, this figure represents a 1.4% decrease compared to the same period last year. Imports from China increased by 7% to 126,000 tons, while imports from South Korea decreased by 4.8% to 319,000 tons. Imports from ASEAN countries fell by 46.6% to 22,000 tons.

Japan's steel imports from Russia fell sharply by 81% to just 1,700 tons. Imports from the European Union fell by 16.5% to 6,100 tons, and imports from the United States fell by 16.5% to 400 tons.