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Mining News - Japan`s steel exports grew by 13.6% in May, up 0.8% year-over-year. This is the first growth in the last 16 months.
Officials from the Japan Iron and Steel Federation (JISE) stated that production was rising in May and steel was available for export to steel mills sufficiently, according to Mine News.
However, officials in the organization said the volume of exports was not high, as Japanese factories continued to focus on domestic supply.
The exports of hot plate during this period amounted to 900,854 tons, up 4.8 percent from May last year, while exports are 18.2 percent higher than in April. The flat products, which reached 237,624 tons, grew 44.4 percent year-on-year and 13.4 percent year-on-year.
Japanese May exports to South Korea dropped 0.8 percent to 472,104 tons. Exports to Thailand grew by 13.4 percent to 506,191 tons, and China`s exports fell to 12.3 percent to 42.44 tons. Exports to the United States fell by 17.1 percent to 129,464,000 tons, and JISF said it was due to the imposition of US import tariffs on aluminum and steel. US final consumers continue to buy Japanese steel products because there are no other options to import, so reducing exports to the US may be temporary.
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