Japan produced 6.83 million mt of crude steel in May, a decrease of 4.2% compared to 2024, according to data released by the Japan Iron and Steel Federation on June 23. This marks the second consecutive month of reduced output.
By furnace type, 5.07 million mt was produced by basic oxygen furnaces, down 4% versus May 2024, posting their second month running of declines.
Electric arc furnaces contributed about 1.76 million mt, which is 6.7% lower year-over-year, marking 10 consecutive months of declines.
Downstream, Japan’s production of hot-rolled steel products was down for five months running as of May, recording a 7% year over- year fall to 5.97 million mt.
Of the hot-rolled steel products manufactured in May, hot rolled wide strips accounted for about 46.7%, or 2.79 million mt, which is a 9.9% year-over-year decline.
According to domestic steelmakers such as Tokyo Steel Manufacturing, the predominantly negative figures in May were attributed to weaker domestic demand for steel building materials, global uncertainty over US steel tariffs, and protectionist measures against imports of Japanese steel.
US President Donald Trump imposed a 25% tariff on all steel and aluminum imports in March. Subsequently, on May 30, he said that the tariffs would double to 50%, which came into effect on June 4.
Furthermore, according to a notice published in the US Federal Register on June 12, the Department of Commerce announced that it would expand the list of derivative products subject to a 50% steel tariff, effective June 23. The expanded US tariffs affect 11 steel derivative products, including refrigerators, freezers, dishwashers, and washing machines and dryers.
Amid the latest protectionist moves, Malaysia, on June 20, renewed antidumping duties on cold-rolled coils imported from China and Japan from June 23, 2025, to June 22, 2030.
“Although certain products for automotive end usage have been excluded from the scope of the antidumping measures, we believe that it is inappropriate and regrettable that the Ministry of International Trade and Industry, Malaysia has concluded that the domestic industry in Malaysia has been injured by imports of the cold-rolled coils from Japan,” Tadashi Imai, chairman of the JISF said June 23.
