Japan: Steel exports projected to decline 24.3% on year

Steel exports by the world’s third largest steel producer as well as demand for steel products is forecast to drop 24.3% from a year earlier to 17.28 mn t in Jul-Sept’20, Japan’s Ministry of Economy, Trade and Industry has said. Steel used for automobiles, shipbuilding and industrial machinery will be the hardest hit, slumping by 24-33% on year.