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Japan's steel exports fell for the fifth consecutive month, with total exports in August dropping to 2.46 million tons, a 7.2% year-on-year decline. X60M steel, Data released by the Japan Iron and Steel Federation (JISF) on September 29 showed that weak demand was the main reason.
Looking at major export destinations, Thailand imported 370,000 tons in August, a year-on-year decrease of 1.7%, marking the first decline in nearly four months; South Korea imported 266,000 tons, a sharp year-on-year decrease of 25.5%, marking the eighth consecutive month of decline; and Taiwan imported 121,000 tons (a year-on-year decrease of 26.0%), marking the second consecutive month of decrease. X60M steel, In contrast, China imported 200,000 tons in August, a year-on-year increase of 0.4%, marking the first rebound in 14 months; and the United States imported 82,000 tons, a year-on-year increase of 4.4%, marking the second consecutive month of growth.
By product type, hot-rolled wide strip steel exports in August totaled 959,000 tons, a year-on-year decrease of 6.6%, marking the fourth consecutive month of decline.
This export decline is largely in line with previous forecasts from Japan's Ministry of Economy, Trade and Industry. In July, the agency projected that Japan's steel exports for July-September would fall by 11.5% year-on-year to 6.09 million tons, citing factors including weakened demand from Europe and Southeast Asia, as well as trade measures targeting Japan.
Regarding trade measures, the European Commission announced on September 25 that it would impose final anti-dumping duties on certain hot-rolled flat products from Egypt, Japan, and Vietnam. X60M steel, In response, JISF President Tadashi Imai stated, "During the anti-dumping investigation, the Japanese steel industry has emphasized that it has not caused harm to the EU steel industry. The Japanese steel industry will carefully study this decision and determine appropriate countermeasures."
Cumulatively, Japan's total steel exports from January to August amounted to 20.36 million tons, a year-on-year decrease of 4.2%. X60M steel, Of this, hot-rolled wide strip steel accounted for 7.57 million tons, a year-on-year decrease of 5.2%. During the same period, exports to Thailand totaled 2.88 million tons, a year-on-year increase of 1.7%; exports to South Korea totaled 2.53 million tons, a year-on-year decreh5ase of 21.3%; and exports to Taiwan totaled 1.31 million tons, a year-on-year increase of 7.3%.
Despite a rebound in exports to both China and the United States in August, cumulative exports to China from January to August totaled 1.57 million tons, a year-on-year decrease of 15.3%; exports to the United States totaled 739,000 tons, a year-on-year decrease of 8.2%.
