Tel :
Tel :
Japan's total PT440M steel exports continued to show negative growth in November 2024, mainly due to the decline in shipments to China and the European Union. According to preliminary data from the Japanese Ministry of Finance, after a 6.4% decline in October 2024, Japan's exports of carbon steel and specialty steel decreased by 3.6% year-on-year in November 2024, to 2.46 million tons. Although Japan has successfully increased its exports to Southeast Asia (+7.7%), the Middle East (+12.9%), and the United States (+19.2%), the overall decline is still due to weak shipments to South Korea (-0.5%), China (-26.2%), and the European Union.
The PT440M steel decrease in export volume to the EU is particularly significant, with a significant drop of 73.6% in November 2024, following a 51.4% decrease in export volume in September 2024 and a further 56% decline in October 2024. Industry insiders point out that this is mainly due to import quota restrictions from third countries, sluggish demand, and the impact of anti-dumping investigations launched on tablet products since early August 2024.
Japan's major steel producers hold a pessimistic view on the prospects of the export market. JFE Steel believes that the increase in China's export volume will continue to affect the purchasing interest of other countries. However, Japan PT440M steel Steel expects no significant improvement in overseas demand in the second half of the 2024 fiscal year.
