Japan's steel exports rise 21% in May to 4 million tons

Resource from: The Daily Yomiuri Likes:2968

Jul 03,2012

Jul 3, 2012/The Daily Yomiuri/ -- Japan's steel exports in May increased 21 percent from a year before to 4.01 million tons, the first rise in 15 months, the Japan Iron and Steel Federation said Monday. The association said the boost was caused by orders from automakers and electronic manufacturers following a fall in the value of the yen in March and April. Exports to China rose 3.3 percent to 594,000 tons, the first increase in 14 months. Exports to Thailand and Taiwan also rose. But shipments to South Korea, the biggest export market for Japanese steelmakers, dropped 9.6 percent to 758,000 tons, falling for the 18th straight month. The export environment remains severe due to the yen's strength and the growth of steel production in Asia, the association said.

(The Daily Yomiuri)

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