Friday, 03 Sep 2010
According to Japan Iron and Steel Federation, steel exports increased 4% on the year to 3.33 million tonnes in July, marking the 12th straight month of expansion.

But the gain was modest, as a rise in exports was smaller than that the previous year following the financial crisis. The slight growth was also due to fewer exports on worsened market conditions in Asia and other parts of the world.

Japanese firms exported 795,000 tonnes of steel to their biggest customer, South Korea, down 9.3% and falling into negative territory for the first time in 14 months.

As for exports to China, the amount contracted 4.5% to 605,000 tonnes due mainly to weaker demand and increased inventory, marking the first decline in nine months. Meanwhile, exports to the US and Thailand surged.