Japanese steel exports indicate rise year-on-year

Japanese steel exports indicate rise year-on-year

The Japan Iron and Steel Federation announced that Japan's steel exports amounted to 3.09 million mts in July, up by 3.1% from a year earlier on the back of brisk demand from China and other Asian countries. Exports to China increased by 12.6% from a year earlier while exports to Thailand surged by 35.2%, marking the first rise in the last three months. Exports to Taiwan were also up for the first time in the last four months, growing 4.3%. Japan's steel exports to the US rose by 34.7% in July. However, exports to South Korea dropped by 10.1%.