According to Japan iron and steel statistics, the export volume, which includes special steel, pig iron and other bulk goods, will reach 32.32 million tons in 2022, which is 6% lower than the number in 2021. In 2022, exports were expected to decrease due to a slowing global economy affected by rising inflation, weak consumer confidence, and supply chain disruptions caused by the resurgence of the COVID-19 pandemic.
Takahiro Mori, Vice President of Nippon Steel, said that the global situation is changing rapidly and the steel industry may continue to face challenges in 2023. All of these were interpreted as the reasons for the instability in the steel market.
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