Steel imports: risk of trade barriers in Japan
Domestic mills reel under surging cost of a key raw material and a jump in imports
Tokyo
A DIFFICULT year just keeps getting tougher for Japan's steelmakers, raising the possibility that the world's second-biggest producer could join the ranks of nations that have raised trade barriers to cheaper imports.
Forced to contend with an unprecedented glut of metal on export markets, and a yen-rate that's doing them no favours, the nation's top mills swung to losses in the first quarter ended June, warning that conditions could deteriorate. Forward three months, and the firms are dealing with new risks around the surging cost of a key raw material and a jump in steel imports.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Energy & Commodities
World’s biggest tea buyer Lipton’s sale of last farms is a strategy shift
Insurance firms deny Chevron’s US$57 million claim for Iran oil seizure
China's approves first gene-edited wheat in step to open up GM tech to food crops
Shell to sell Singapore oil refinery, chemicals assets to Glencore joint venture
Gold prices hold ground as traders eye US Fed cues
Suspicious China cooking oil is hurting US biofuels business