Steel Trade Update
Japanese steel exports fell to a ten-month low of 3.3 Mt in February, yet remained up 2% year-on-year, according to data from the Japan Iron and Steel Federation. Shipments to China fell to their lowest level since January 2009 in February at 0.4 Mt. Exports to South Korea were up 9% year-on-year at 0.6 Mt. According to the country's steel ministry, Indian steel imports rose 71% year-on-year in financial year 2014/15 (Apr-Mar) to 9.3 Mt, newswires report. Domestic steel production was up 7.9% in the 2014/15 financial year (Apr-Mar), to 88.1 Mt, while steel exports fell 8.1% to 5.5 Mt.