METI sees Japanese Q3 steel demand down by 26pct YoY
Wednesday, 01 Jul 2009
Ministry of Economy, Trade & Industry said that Japan's domestic demand for ordinary and specialty steel in the third quarter of 2009 is forecast at 14.65 million tonnes, down by 26.2% YoY, but up by 9.4% QoQ.
METI said that the automotive industry is destocking plus public infrastructure projects are expected to increase, which will have a positive impact on the steel industry.
Meanwhile, total steel demand including exports is seen at 20.71 million tonnes, down by 25.1% YoY, but up by 11.8% QoQ.
