P.M. BRIEFING : Japan Steel Exports Off 22.4%
Paced by sluggish sales to China, the Soviet Union, Taiwan and South Korea, Japan’s steel exports in May fell 22.4% from a year ago to 1,345,000 tons, the Japan Iron and Steel Federation reported today.
Exports to the United States, however, rose 3.4% to 278,000 tons, the federation said.
The federation indicated sales to China plummeted 69.6% to 115,000 tons while those to the Soviet Union were down 50.1% at 29,000 tons.
Exports to Taiwan fell 40.7% to 138,000 tons while those to South Korea plunged 36.8% to 105,000 tons.
The federation added that Japan’s imports of ordinary steel products totaled 610,000 tons, up 4.4% over a year ago but down 14% from April.
The May imports were the second lowest since the beginning of this year, the federation said.
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