Japan’s steel exports increase by 20.5 percent in Jan-Feb

In February this year, Japan's iron and steel product exports amounted to 2.98 million metric tons, up 4.9 percent month on month and rising by 22.7 percent year on year, according to the customs statistics released by the Japan Iron and Steel Federation (JISF).

Semis exports increased significantly in February due to the slowdown of local finished steel demand. The number of slab cargoes sold to Southeast Asia increased for February-March shipment. Moreover, due to falling scrap prices in the local market in Japan, exporters of billet and slabs have been able to give competitive prices, SteelOrbis understands.

In the January-February period of this year, Japanese iron and steel product exports amounted to 5.81 million mt, increasing by 20.5 percent compared to the same period of 2019. 

Regarding Japan's major iron and steel product export markets, in the first two months of the year the country's iron and steel exports to South Korea totaled 882,827 metric tons, up 22 percent, while exports to China increased by nine percent to 826,563 million metric tons, the export volume to Taiwan amounted to 428,822 metric tons, up by 84.9 percent, exports to Thailand totaled 727,760 metric tons, falling by 10.4 percent, while exports to the US totaled 153,012 metric tons, falling by 31.3 percent, all year on year.