Price of Expanded Metal in Japan Sees Modest Increase, Reaching $9,753 per Ton

Japan Expanded Metal Export Price in July 2023

In July 2023, the expanded metal price stood at $9,753 per ton (FOB, Japan), picking up by 12% against the previous month. In general, the export price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in November 2022 an increase of 31% month-to-month. The export price peaked at $10,627 per ton in July 2022; however, from August 2022 to July 2023, the export prices remained at a lower figure.

Prices varied noticeably by the country of destination: the country with the highest price was the United States ($12,203 per ton), while the average price for exports to the Philippines ($1,288 per ton) was amongst the lowest.

From July 2022 to July 2023, the most notable rate of growth in terms of prices was recorded for supplies to the Philippines (+0.6%), while the prices for the other major destinations experienced a decline.

Japan Expanded Metal Exports

Expanded metal exports from Japan surged to 22 tons in July 2023, growing by 32% compared with the month before. Overall, exports, however, continue to indicate a noticeable curtailment. The most prominent rate of growth was recorded in February 2023 when exports increased by 69% against the previous month.

In value terms, expanded metal exports surged to $210K (IndexBox estimates) in July 2023. Over the period under review, exports, however, recorded a abrupt decline. The growth pace was the most rapid in September 2022 when exports increased by 87% m-o-m.

Japan Expanded Metal Exports by Country

the United States (14 tons) was the main destination for expanded metal exports from Japan, with a 63% share of total exports. Moreover, expanded metal exports to the United States exceeded the volume sent to the second major destination, Indonesia (4.2 tons), threefold. the Philippines (3.3 tons) ranked third in terms of total exports with a 15% share.

From July 2022 to July 2023, the average monthly rate of growth in terms of volume to the United States amounted to -5.0%. Exports to the other major destinations recorded the following average monthly rates of exports growth: Indonesia (-7.9% per month) and the Philippines (+3.7% per month).

In value terms, the United States ($166K) remains the key foreign market for expanded metal exports from Japan, comprising 79% of total exports. The second position in the ranking was taken by Indonesia ($26K), with a 13% share of total exports. It was followed by Thailand, with a 4.8% share.

From July 2022 to July 2023, the average monthly growth rate of value to the United States stood at -5.4%. Exports to the other major destinations recorded the following average monthly rates of exports growth: Indonesia (-9.3% per month) and Thailand (-0.7% per month).

Source: IndexBox Market Intelligence Platform