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Japan crude steel output falls in August

Steel News - Published on Fri, 22 Sep 2017

Image Source: Shanghai Daily
Reuters reported that Japan's crude steel output fell 2% to 8.73 million tonnes in August from a year earlier, the fourth straight month of decline, due to glitches at some mills. The Japan Iron and Steel Federation said that however, the output, which is not seasonally-adjusted, rose 1.7% from July.

The federation said that production of ordinary steel slid 3.2% on year to 6.68 million tonnes, while output of specialty steel rose for a 16th month in a row to 2.06 million tonnes, up 2.1% from a year earlier.

A researcher at the federation said that "Domestic steel demand for automobiles and other industries, as well as construction is fairly strong, but August output declined apparently due to problems at some mills.”

JFE Steel, Japan's second biggest steelmaker under JFE Holdings Inc , said earlier this month it would halt operation of a blast furnace at its East Japan Works, near Tokyo, from late September to sometime in October due to trouble, trimming its annual output by about 300,000 tonnes. In August, the Ministry of Economy, Trade and Industry raised its estimate of July-September crude steel output to 26.4 million tonnes, up 0.2% from a year earlier, against a forecast of 26.29 million tonnes issued in July, reflecting healthy domestic demand. The researcher said that "But given slow operation at some mills, the quarterly output may fall short of the forecast.”

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Posted By : Sanju Moirangthem on Fri, 22 Sep 2017
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