Japanese Steel Exports Down
Japanese steel exports dropped to a near three-year low of 2.4 Mt in January, as shipments to China and other Asian destinations fell, according to official data. This was also the lowest total for the month of January since 2009.
Meanwhile, Japanese industrial production contracted by 0.9% year-on-year in January as output in the country’s auto sector fell sharply, preliminary government data show. This compares with expansion of 2.7% in December.