Japanese steel giant Nippon Steel during an analyst call has signaled lesser focus on steel exports from Japan. Nippon Steel’s CFO Mr Takahiro Mori told “Reducing exports from Japan is exactly in line with our intention in implementing the production facility structural measures. We are currently expanding our global production bases, which expands our options. We believe our ultimate goal is to ship products from the most appropriate location by using the most appropriate method, but the trend of favoring local production and local consumption has to be taken into consideration. So, local production comes first and then as an applied operation, we may think about which location is the best for exports to which destination among the various options we have in using localized bases.”Mr Mori added “We have strived to establish a structure that relies less on exports by reducing production capacity through the production facility structural measures and by reducing exports of commodity-grade products. We are also reducing export volume because the spread on exports is narrowing at present. As a result, the effects of spread deterioration are becoming relatively small.”
Japanese steel giant Nippon Steel during an analyst call has signaled lesser focus on steel exports from Japan. Nippon Steel’s CFO Mr Takahiro Mori told “Reducing exports from Japan is exactly in line with our intention in implementing the production facility structural measures. We are currently expanding our global production bases, which expands our options. We believe our ultimate goal is to ship products from the most appropriate location by using the most appropriate method, but the trend of favoring local production and local consumption has to be taken into consideration. So, local production comes first and then as an applied operation, we may think about which location is the best for exports to which destination among the various options we have in using localized bases.”Mr Mori added “We have strived to establish a structure that relies less on exports by reducing production capacity through the production facility structural measures and by reducing exports of commodity-grade products. We are also reducing export volume because the spread on exports is narrowing at present. As a result, the effects of spread deterioration are becoming relatively small.”
