According to the provisional data released by the Japanese Ministry of Finance, in January this year Japan's iron and steel product exports came to 3.6 million metric tons, decreasing by 5.5 percent month on month and up 24.4 percent as compared to the same month of the previous year, while these exports generated a value of JPY 267 billion ($2.8 billion), down 5.4 percent compared to December 2012 and down 1.6 percent on year-on-year basis.

In the given month, Japan's iron and steel product exports to the US increased by 4.4 percent to 180,000 metric tons, its exports to the EU increased by 60.3 percent to 42,000 metric tons, while iron and steel exports to China increased by 4.3 percent to 482,000 metric tons, exports to the Middle East rose by 55.2 percent to 221,000 metric tons, and iron and steel exports to ASEAN countries rose by 42.6 percent to 1.2 million metric tons, all compared to January 2012.

Meanwhile, Japanese iron and steel product imports amounted to 595,917 mt in January this year, decreasing 11 percent compared to the same month of the previous year, with a value of JPY 60.5 billion ($644 million). Japan's iron ore and concentrate imports in the month in question amounted to 11.7 million mt, down by 1.9 percent year on year, with a value of JPY 127 billion ($1.35 billion), falling 18.8 percent compared to January 2012.