December 02, 2008

Japanese steel demand slower than expected - Nippon Steel

Nippon Steel has revised the domestic steel consumption downward to 78 million tonnes for fiscal 2008 ending March 2009, which is 1.5 million tonnes lower than original outlook in March and flat from fiscal 2007.

Nippon Steel expects now the building demand is slower with 1 million units of housing start and 60 million square meters of nonresidential building start, which is lower than 1.08 million units and 68 million square meters respectively in original outlook.