Japan imported 8.3mn t of iron ore in June, up by 5.1pc against a year earlier, according to preliminary data released by the country's finance ministry on 17 July.
- June imports rose by 18pc from a month earlier.
- The country increased imports on the back of higher crude steel production, which rebounded to 6.8mn t in May, up by 3.5pc on the month but still lower by 4.7pc on the year.
- Japan's steel mills are bearish about the short-term outlook of crude steel output because of weak demand in both domestic and export markets. Production is forecast to drop by 2.3pc on the year to 20.1mn t in July-September, according to the trade and industry ministry Meti.
- Japan's iron ore import prices averaged at $102.08/t in June, down by around 16pc on the year. The yen-denominated price was ¥14,701/t ($99/t), lower by 23pc over the same period.
