TOKYO (Reuters) – Japan’s steel industry is concerned over a rise in China’s crude steel output and exports in March as it may weigh on Asia’s steel market that has recovered this year on firmer Chinese demand, the head of the industry body said on Thursday.
“We are not sure whether or not the recent pickup in Asia’s steel prices will continue,” Koji Kakigi, the chairman of the Japan Iron and Steel Federation, told a news conference.
The increase in China’s output and exports in March may mean Chinese mills that had halted operations due to slumping prices have resumed operations.
“We are not sure if the rise is because of a recovery in demand after Chinese New Year or resumptions of production by local mills in the face of higher steel prices. We need to closely look at China’s output and export in April,” he said.
(Reporting by Yuka Obayashi; Editing by Christian Schmollinger)
