Japanese July iron ore import price hits record high

News was prepared under the information support of Online Daily Newspaper on Hellenic and international Shipping "Hellenic Shipping News".

31 Aug 2008

According to data announced by ministry of finance, Japanese iron ore import price increased by 38% YoY to JPY 10,700 per tonne CIF in July 2008 from a year earlier, hitting first JPY 10,000 CIF level. The import unit price increased to 2.4 times at JPY 32,400 for hard coking coal and by 83.5% to JPY 60,800 for coke, which were first JPY 30,000 and JPY 60,000 respectively. The import value increased by JPY 149 billion in July 2008, which represents annualized JPY 1.792 trillion, when the higher price lifts the import value. The import price is expected to increase more after August when the wide jump for the items is reflected gradually.

Source: Steel Guru