P.M. BRIEFING : Japan’s Steel Exports Take Dive
Japan’s steel exports in fiscal 1989 hit a 19-year low largely because of sluggish sales to its major customers, China and the Soviet Union, the Iron and Steel Federation said in a preliminary report today.
The federation said exports in the fiscal year, which ended March 31, were estimated at 18.99 million metric tons, down 18.3% from the preceding year and the lowest since fiscal 1970, when Japan’s overseas sales totaled 19.75 million tons.
Federation officials said there is little possibility that Japan’s sluggish steel exports will pick up although domestic demand will remain strong.
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