Japan's Nov steel exports surge 19% YoY

In November, Japanese exports of all grades and categories of carbon and special steel approximated 2.85 million tonnes, higher by a huge 18.5% on year, according to preliminary data released by Japan's Ministry of Finance on December 16. Japanese shipments abroad have now climbed on year for seven consecutive months, Mysteel Global notes. Last month's exports were also higher by 3.7% from October, the data show.

The rises occurred because Japan's steel producers, notably the integrated mills and special steel producers, had more tonnage available for supplying to foreign customers after steel consumption among the domestic automobile makers and component suppliers slowed, market sources observed. Japan's automotive sector is by far the country's largest domestic