Japanese steel exports rebounded in May

Release time：Jun 26, 2019 From：admin

Japan’s exports to Asian countries totaled 2.444 million tons, accounting for more than 81% of Japan’s total exports that month. Japanese steel exports rebounded in May.

According to preliminary statistics released by the Japanese Ministry of Finance (MoF), Japan’s steel exports recovered in May this year compared with the previous month. The total export volume for the month was 3.011 million tons, which was 11% higher than the total export volume of 2.702 million tons in April 2019. However, compared with the same period last year, exports fell by 5.7%. China’s exports have been declining in recent months, mainly due to strong domestic demand and weak international demand due to fierce competition from other countries.

The main destination for Japanese steel exports is the Asian region. Exports to Asian countries totaled 2.444 million tons, accounting for more than 81% of Japan's total exports for the month. Among Asian countries, South Korea and China reported an increase in Japanese imports. MoF data showed that exports to China and South Korea increased by 18.6% and 6.4% respectively. Exports to the ASEAN region fell 14% year-on-year to 938,000 tons. The data shows that demand in Thailand has fallen sharply. Thailand is a major importer in the past few months.

At the same time, in May this year, Japanese steel imports rose slightly by 0.3% to 710,964 tons. The main sources of imports are South Korea (302,848 tons) and China (136,186 tons).