Japan exported 3.33 million tonnes of steel products in October, down -1.9% year-on-year, according to preliminary data released by the Ministry of Finance. The figure is also down from a final figure of 3.39mt in September, making it the third consecutive month of decline, Kallanish notes.

Of the total, 2.52mt was exported to Asian countries, down -2.1% y-o-y. China as a destination saw volumes fall -1.3% y-o-y to 448,000t, while Asia not including East Asia saw volumes down -4.1% to 835,000t. Asean continued to see growth, however, with volumes up 2.8% to 1.07mt.

Exports to the USA have continued to be hit by increasing trade barriers. October volumes hit 127,000t, down -38.2% y-o-y.

Japan also imported 681,189t of steel products in October, 1.7% more than a year earlier.