According to statistics release by the Japan Iron and Steel Federation (JISF), Japan imported 20,037 tons of stainless steel products in January, soaring by 47.4% from a month ago.

Among them, 15,149 tons were from Korea, surging by 49.3%; 1,845 tons were from Taiwan, rising by 46.9% and 1,489 tons were from China, jumping by 76%, all compared to the figures in a month earlier.

In January, the country’s import prices of stainless steel products averaged at US$3,218.5/ton, falling by 8.4% month on month, caused by depreciated Japanese Yen.