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  • Steel exports down 4.2 pct in Oct - Japan Iron and Steel Federation

    Japan's steel exports in October dropped 4.2 pct in volume from a year earlier to 2,429,000 tons, the fourth monthly decline in a row, the Japan Iron and Steel Federation said Friday.

    The fall came as steelmakers continued to reduce shipments overseas for inventory adjustment, due to price declines for general- purpose products in Asia caused by stepped-up production in China and other countries.

    On the other hand, the value of steel exports in the month rose 13.3 pct to 2,316.03 million dollars, increasing for the 26th consecutive month. In yen terms, exports were up 16.4 pct at 262.4 billion yen, marking the 23rd straight monthly rise.

    By destination, exports to South Korea declined 4.2 pct to 635,000 tons, while those to China fell 6.0 pct to 431,000 tons. Shipments to Thailand and Taiwan surged 20.5 pct to 335,000 tons and 42.6 pct to 307,000 tons, respectively, thanks to increasing demand from Japanese-affiliated companies operating there.END

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