Nippon Steel and other Japanese steelmakers are urging Tokyo to curb cheap steel imports from China to protect the domestic market, according to Nippon Steel Vice Chairman Takahiro Mori, as reported by Reuters.
China’s steel exports rose 24pct to 53.4 mln tons in the first half of 2024, potentially reaching 100 mln tons by year-end. Meanwhile, Japan’s steel imports surged 17pct to 1.32 mln tons in April-June, with Chinese imports jumping 43pct, according to the Japan Iron and Steel Federation.
Mori warned that China’s exports could rise further as local demand drops by about 30 mln tons annually. He stated that Japan is lobbying for measures, including anti-dumping duties, as other regions like the U.S., Europe, and South Korea have already taken steps to restrict Chinese steel imports. “Only Japan is exposed. We are in a very dangerous situation. If we don’t protect it, the Japanese market will suffer,” Mori said.
