Steel exports of Japan decreased by 7% year on year in November 2018

Japan's steel exports in November decreased by 7% year on year and by 5.2% from October to 2.97 million mt, as the business intelligence agency "S&P Global" cites recent data of the Japan Iron and Steel Federation.

According to the report, tf the November exports, ordinary carbon steel totaled 1.9 million mt, down 4.3% year on year and 4.5% from October, while special steel exports fell 11.2% from a year ago and 8.3% month on month to 645,834 mt.

But a Tokyo-based trader said that the stances taken by steel producers have not changed, and they are still busy meeting firm domestic demand and limiting exports. "But export drop widened in November ... we understand JFE Steel's furnace problem was also another factor [behind the] decrease in export volume," told "S&P Global".

Japan's second largest integrated mill JFE Steel had temporary banked its No. 2 blast furnace at its Kurashiki section of West Japan Works on October 23.

Source: S&P Global, photo: fotoalia