In December, Japan's exports of iron and steel products decreased by 0.9% monthly to 2.56 million tons, while there was a decrease of 4.2% on an annual basis. Annual exports reached 32.69 million tons, an increase of only 1.2%.
Products contributing to the growth include pig iron, rails, sheet piles, heavy plate, HR wide strip, CR sheet, galvanized sheet and seamless pipes.
On the import side, there was an increase of 1% in December and 1.6% on an annual basis, reaching 623,691 tons and 7.57 million tons. Like the export market, the import market also saw annual growth in many products such as rails, piles, heavy plate, HR wide strip and galvanized sheet.
On a country-by-country basis, all major regions except South Korea reduced their purchases of Japanese steel in 2023 compared to 2022. However, the top three suppliers increased their shipments to Japan.
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