Japan’s March steel exports to US down by 38%

7th May 2018

Japan’s steel exports to the United States dipped 38.2% in March from a year earlier due to a sharp slide in export of semi-finished products. Japan Iron and Steel Federation said that its overall steel exports dropped 2.5 percent. The decline comes as the United States imposed 25 percent import duties on steel last month. The US government provided a temporary exemption until May 1 for the European Union and six other nations, but not Japan.

The federation said that steel exports to the United States slipped 14.5% in the financial year ended March 31 from a year earlier to 1.78 million tonnes, their lowest in seven years.

Overall steel exports from the world’s second-biggest steel producer fell 7.3% for the year.

Source: JAPAN TODAY