Market Trend and AnalysisStatistical Review of the Steel Trade in Northeast Asia
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As the world’s top three steel exporters, Korea, China, and Japan are front-runners in the structural change of the steel export market. They are still expanding into the global market with differentiated export strategies in order to increase their shares. China is diversifying export items and destinations for its bulk supply of steel products. Japan leaps forward with investment in high-quality steel, taking advantage of locking-in demand. Korea gears up to meet demand for steel materials through overseas downstream investment in Southeast Asia, Mexico, USA, and India.
Competition for steel exports among Korea, China, and Japan has intensified. As the USA, EU, and the ASEAN strengthen protectionist measures for their steel industries, global steel trade will contract and heighten the rivalry among the three countries.