The Japan Iron and Steel Federation (JISF) announced that Japan's hot rolled plate and sheet (HRP and HRS) shipments experienced a significant increase in March 2024. The data shows that shipments rose by 11.8 percent compared to the previous month, reaching 771,441 metric tons. However, when compared to the same period in 2023, there was a decrease of 8.3 percent from the recorded 841,749 mt.
The report further reveals that in March 2024, 71.5 percent of the shipments were made to the domestic market, while the remaining 28.5 percent were exported. Additionally, Japan's hot rolled plate and sheet production amounted to 800,350 mt, up by 13.5 percent month-on-month but down by 2.2 percent year-on-year.
The increase in shipments can be attributed to various factors, including market demand, production efficiency, and global trade dynamics. The steel industry in Japan continues to adapt to the changing market conditions and remains a significant player in the global steel market.
