Japan’s steel exports in April fall to a nine-year low

4th June 2018

Japan’s overall steel exports in April fell 5.5 percent from a year earlier to the lowest in nearly nine years, but exports to the United States rose 11.7 percent as more semi-finished products were shipped, the Japan Iron and Steel Federation said on Thursday.

Overall exports from the world’s second-biggest steel producer fell for a 15th consecutive month to 2.836 million tonnes, the lowest since May 2009.

“The drop may reflect strong demand at home from auto and construction industries, but it is difficult to analyse reasons or trends as monthly data greatly fluctuates,” a researcher at the Federation said.

Export to the U.S., meanwhile, rose to 145,481 tonnes despite a 25 percent import tariff imposed by Washington in March. Exports to the U.S. market slumped 38 percent that month.

Source: REUTERS