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Virus, short supply cut Japan’s 2020 steel exports by 5%

Japan’s total steel exports during calendar 2020 fell 4.8% on year to 31.26 million tonnes, according to preliminary data released by Japan’s Ministry of Finance on January 21. Last year’s result marked the fourth year in a row that annual export volume had fallen below 40 million tonnes, with the reduction mainly attributed to the negative impact of the COVID-19 outbreak on steel consumption worldwide.
In total exports, the average unit price calculated in Yen was Yen 80,876/tonne ($756/t) FOB, lower by about Yen 11,000/t on year, Mysteel Global calculates from the data. Within the volume total, steel exports to Asia accounted for 25.02 million tonnes or about 79% of the total, lower by 5.9% on year. In this,

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