Tel :
Tel :
The latest data released by the Japan Iron and Steel Association shows that due to weak global demand, Japan's P355GH steel exports in October 2024 were 2.52 million tons, a year-on-year decrease of 6.4%, marking the third consecutive month of year-on-year decline. This trend reflects the severe challenges currently faced by the global steel market.
Specifically, the export volume of ordinary steel was about 1.7 million tons, a year-on-year decrease of 9.6%, which is also the third consecutive month of year-on-year decline. Among them, hot-rolled wide steel strip, as the main ordinary steel product exported in October, had a total volume of 866000 tons, a year-on-year decrease of 12.1%, which was the first year-on-year decrease in two months.
From the perspective of major export destinations, South Korea P355GH steel was Japan's largest steel exporter in October, with an export volume of about 401000 tons, a year-on-year decrease of 8%, marking the 13th consecutive month of year-on-year decline; Exported 365000 tons of steel to Thailand, a year-on-year decrease of 10.6%, marking the first decline in two months; The export of steel to China was 219000 tons, a year-on-year decrease of 11.7%, marking the fourth consecutive month of year-on-year decrease.
Overall, from January to October this year, Japan's cumulative steel exports were 26.4 million tons, a year-on-year decrease of 4.1%. Among them, the cumulative export volume of hot-rolled wide steel strips in the first 10 months was 9.79 million tons, a year-on-year decrease of 5.7%.
These pessimistic data have dimmed the outlook for the fourth quarter of 2024 and supported Japan's Ministry of Economy, Trade and Industry's forecast for October to December. The Ministry of Economy, Trade and Industry predicts that due to weak P355GH steel demand from China and Southeast Asia, Japan's steel exports in the fourth quarter of 2024 will decrease by 0.3% compared to the fourth quarter of 2023.
