Japan: Steel exports dip 3% y-o-y in Apr’25; US-bound shipments fall 20% amid tariffs

• Exports to ASEAN region rise 8% y-o-y
• Exports to SK drop amid HRC AD probe

Japan Metal Daily: Japan’s steel exports dropped 2.9% y-o-y to 2.42 million tonnes (mnt) in April 2025, the first drop in two months, according to data released by the Ministry of Finance on 21 May 2025. Notably, exports to the US dropped by 20% y-o-y amid the recent tariffs on steel imports.

Country-wise export scenario

Exports to the US dropped sharply by 20.3% y-o-y to 59,000 tonnes (t), falling below the 60,000 t mark for the first time since December 2020. This follows the expiry of Section 232 exclusion measures under the US Trade Expansion Act, which now imposes an additional 25% tariff.

Meanwhile, shipments to the ASEAN region rose 7.8% y-o-y to 898,000 t, marking the third consecutive monthly increase.

Exports to South Korea declined 18.4% to 304,000 t y-o-y, reflecting the fourth straight month of contraction, amid an ongoing anti-dumping (AD) investigation into Japanese hot-rolled coils (HRCs).

Volumes to China dropped by 19.7% y-o-y to 177,000 t, marking the 10th consecutive month of decline.

Moreover, exports to the Middle East decreased marginally by 2.1% to 79,000 t, ending a six-month growth streak.

Exports to the EU plummeted by 86.9% y-o-y to just 35,000 t, driven by anti-dumping and safeguard measures targeting Japanese HRC imports.

Steel imports drop 11% y-o-y

Japan’s steel imports fell 10.8% y-o-y to 627,000 t, marking the third consecutive month of declines. Imports from South Korea dropped by 6.7% y-o-y to 297,000 t, the fourth straight month with a decline. Meanwhile, imports from China went down by 23.2% to 115,000 t, ending an eight-month growth streak. Moreover, imports from the ASEAN region also declined by 13.4% y-o-y to 38,000 t.

Outlook

Japan’s steel exports are likely to face continued pressure amid trade barriers and weak demand in key markets. However, steady demand from ASEAN countries may offer some support. Moreover, imports are expected to stay low due to softer domestic demand and reduced shipments from major suppliers. Overall, trade sentiment remains cautious in the near term.

Note: This article has been written in accordance with a content exchange agreement between Japan Metal Daily and BigMint.