China’s steel exports to Japan gain momentum
Data from
Japan's Finance Ministry show that
China's steel exports to
Japan posted a three-fold increase in May 2005. This situation has pressured Japanese steel producers to reduce prices in order to maintain their market share of
construction products.
China exported 256'620 metric tons of steel to
Japan last month. This amount is mainly low-quality
construction steel.
Japan's steel imports rose 43% year on year to 769'337 tons in May, said the ministry.