According to data released by Japan Iron & Steel Federation (JISF), Japan’s exports of common steel products dropped to 2.77 million tons in May, down by 8.3% compared to the same month of last year. The country’s exports have declined for the 4 consecutive months.

The country’s steel exports to South Korea markets declined by 18.7% to 405,200 tons year on year, while shipments to Thailand totaled 350,000 tons, plunging by 5.8% year on year.

During the first five months, Japan’s steel exports decreased by 4.9% to 13.11 million tons compared to the same month of last year.