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Japan’s iron ore imports sharply lower in June 

Japan’s iron ore imports decreased considerably in June, as domestic steel mills kept output cuts under pressure from lower demand in the manufacturing sector due to the Covid-19 pandemic.

According to preliminary data released by the Ministry of Finance on July 19, Japan imported 6.1 million tonnes of iron ore in June, a decrease of 32% over the previous year. The value of imports decreased by 29% to 60 billion yen ($ 561 million).

The total value of iron ore imports from January to June was 514 billion yen, a decrease of 4% over the previous year.

The Ministry of Trade (Meti) has expected crude steel production to drop 3% to 17.7million tonnes in July-September compared to April-June.

According to government data, exports of steel products fell 16% from the previous year to 2.4million tonnes in June but increased by 5% to 17million tonnes in the first six months of this year. Steel products imports decreased by 18% year-on-year to about 520,000 tonnes in June, bringing the total of January / June to 3.5 million tonnes, down 19%.


 

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Arab Iron and Steel Union was established in Algeria in 1972 as the first Arab Union of the Arab countries to be founded under the Council of Economic Unity umbrella in the League of Arab States.

It is the first Arab organization to specialize in the iron and steel field, and its tasks fall within making plans aimed mainly at developing and growing the iron and steel industry in the Arab world.

Arab Iron and Steel Union comprises a wide range of multi-activity companies related to the iron and steel industry from the Arab countries.

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