Japan's second-quarter steel production forecast did not consider the new US tariff policy factors

On April 6th, the Ministry of Industry of Japan stated that the forecast for steel production in the second quarter did not consider any impact from the import tariff of new steel in the United States because it is not yet clear what effect the US will have on the global steel trade.

The Ministry of Industry earlier said on Friday that it expects crude steel production in Japan from April to June will increase by 0.9% from the same period last year.

"We do not know how the new U.S. tariff policy will affect the global steel market because it is unclear how many products will be eliminated," Yasuji Komiyama, director of the Metals Industry Department of the Ministry of Economy, Trade and Industry of Japan, said at the press conference. Outside the scope of taxation."

US President Trump continued to push for high import tariffs on steel and aluminum products last month, but temporarily exempted six trading partners including Canada, Mexico and the European Union. These exempt countries contain most of the U.S. allies but not Japan.

Source: China Steel Price Net

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