Japan’s steel exports record decline in October
The Japan Iron and Steel Federation said that Japan's steel exports reached 2.54 million mts in October, down by 13.4% from a year earlier. Japanese companies shipped less steel to major overseas markets in October. Exports to China decreased by 19.1% from a year earlier and exports to South Korea, Thailand and the US were all down. The decline in Japanese steel exports is attributed to automakers in Japan, which could not supply enough steel sheets to meet their production requirements.Destination Volume % Change year-on-year South Korea 663'000 -17.9% China 458'000 -19.1% Thailand 278'000 -3.3% Taiwan 215'000 -17.6% US 116'000 -1.8%