Japan’s total iron and steel exports in March rose by 9.15pc to 3.02mn mt from the year prior and by 1.58pc from 2.98mn mt in February. Semi-finished steel exports rose marginally by 0.20pc in March to 414,132mt from the prior-year period. Other major exports include hot-rolled wide strip, heavy plate and galvanised sheet among others, according to Japan Iron and Steel Federation (JISF) data released on Thursday.
The federation states the domestic steel industry is challenged as downstream consumption has declined. Auto production and other manufacturing has slowed down, impacting the economy. With a fall in domestic demand, steelmakers in the country diverted their production to overseas markets. JISF’s data published on April 28 revealed that booking of ordinary steel products fell to 4.83mn mt in February from 50.83mn mt in January. The Japanese economy is also bearing the brunt of COVID-19 pandemic.
|Japan’s iron and steel exports in March|
|Hot-rolled wide strip||1,167,154||754,962||54.6||930,652||25.41|