Japan sees decline in steel exports

Japan sees decline in steel exports

Japan's steel exports fell 16.4 percent year on year in July as the demand from South Korea, China and Thailand decreased. Data from the Japanese Iron and Steel Federation show that the country's steel exports contracted to 2.58 million metric tons in July. Shrinking demand from South Korea, China and Thailand, the three largest importers of Japanese steel, saw steel exports fall for the first time in two months. Japan's steel exports to South Korea fell 24.3 percent to 615'000 metric tons in July while those to China decreased 24 percent to 457'000 metric tons. Exports to Thailand were down for the first time in nine months, dropping 9.3 percent to 332'000 metric tons. Meanwhile, Japan's steel exports to the US rose 2.8 percent to 128'000 metric tons, while those to Taiwan increased 3.6 percent to 280'000 metric tons.