Export pick-up offsets decline in Japan’s auto steel orders

Japanese steelmakers were helped by stronger exports in July as orders from the domestic automobile industry dipped by 20.6% year-on-year.

Paragraph entered by Atlantic migration, in order for SteelFirst articles to display correctly on Metal Bulletin.

Export orders for all steel products increased by 3.1% in July, to 2.40 million tonnes, while orders from local car manufacturers moved down to 701,000 tonnes, according to preliminary figures released by the Japan Iron & Steel Federation (JISF) on Monday September 8.

This was the steepest year-on-year fall in orders from the automotive industry in 17 months.

However, a small year-on-year rise of 1.8% in steel orders from the construction industry, to 1.03 million tonnes, and bigger increases from the shipbuilding and machinery sectors helped Japan’s total domestic orders to experience a slight increase of 0.3%.

Shipbuilding companies ordered 24.3% more steel in July, at 383,000 tonnes, while the electrical machinery and industrial equipment industries reported increases of 6% and 7.9%, respectively, to 123,000 tonnes and 156,000 tonnes.

In terms of steel products, hot rolled strip orders increased by 7.1% year-on-year to 1.94 million tonnes.

Orders for heavy plate moved up by 2.2% to 921,000 tonnes, while those for galvanized sheet fell by 0.1% to 884,000 tonnes.

Cold rolled sheet and strip orders rose 2.3% to 621,000 tonnes.

For long steel products, orders for wire rod and bars dropped by 4.6% and 3.7%, respectively, to 184,000 tonnes and 712,000 tonnes.

H-beam orders, on the other hand, increased by 7.8% to 352,000 tonnes.

What to read next
Steel trading and production have come to a halt in the eastern Turkish region of Iskenderun following a devastating earthquake that hit the region on Monday February 6 and put mills in the area under force majeure, sources told Fastmarkets on Tuesday
A 120-day closure of four Illinois dams scheduled for 2023 will disrupt barge shipments and have potentially both negative and positive impacts on scrap and finished steel products from Canada to Texas
Market participants are cautiously optimistic about a rebound in iron ore concentrate premiums, with steelmakers around the world set to ramp-up production in line with an anticipated increase in demand for steel products, Fastmarkets understands
General Motors (GM) is investing $650 million to develop the Thacker Pass mine in Nevada, the largest known source of lithium in the US and the third largest in the world
Electrolysis processes developed by Boston Metal and Electra that eliminate the need for coal in steel production could be key to a net-zero emissions future for the metallics industry, attendees learned at Fastmarkets’ conference on January 17-19 in Dallas
We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.