Japanese steel exports show signs of recovery

Imports and Exports | | MIC Customs Solutions |

Steel exports from Japan are going up again after a tricky period for the country.

Japan's steel exports increased in March as the industry showed signs of recovery, according to new figures.

The Japan Iron & Steel Federation (JISF) said exports rose 18.3 per cent from February to 2.8 million metric tons as its steel mill production bounced back from a series of glitches and natural disasters earlier in the year and in 2018.

A JISF official confirmed that integrated mills in Japan returned to normal production in April and so more steel should be available for exports, S&P Global Platts reported.

However, steel production was found to have declined 17.9 per cent year-on-year, with ordinary steel exports falling 16.6 per cent to 1.85 million mt.

Exports of special steel had risen 4.6 per cent between February and March, while exports of hot-rolled coils went up 30 per cent.

The head of JISF Yoshihisa Kitano recently said he expects Japan's crude steel output to rise slightly in the financial year to March 2020 thanks to robust local demand and the industry's recovery from difficulties.

Japan is the second-largest steel exporter in the world, sending products to more than 130 countries and territories.