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Japan's Crude Steel Output in July-September Quarter to Rise 0.9% YoY - METI

Steel News - Published on Thu, 11 Jul 2019

Image Source: Business Recorder
Japan’s Ministry of Economy, Trade and Industry estimated that crude steel output to be 25.89 million tonnes in the July to September quarter compared with 25.65 million tonnes a year earlier. The previous four quarters all posted year on year declines. The nation's crude steel output for the April to June period is forecast to have fallen to 25.82 million tonnes from 26.56 million tonnes a year earlier.

Mr Noriyuki Kuroda director of metal industries division at METI said that the forecast for the July to September period is 0.3% higher than the previous quarter's output when steelmakers made some production adjustments to cut mounted local inventories.

Japanese steelmakers are enjoying healthy demand from the construction sector amid higher public spending to build stronger infrastructure to mitigate damage from disasters, but a series of technical troubles have prevented them from producing as much steel as they had planned.

Demand for steel products, including those for exports, in the July to September period is expected to rise 0.8% compared with a year earlier to 23.01 million tonnes, the ministry said, citing an industry survey.

In the July to September quarter, exports, which typically account for about 40% of Japanese steel production, are predicted to rise 1.7% from a year earlier while they are expected to increase 4.2% from the previous quarter.

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Posted By : Ratan Singh on Thu, 11 Jul 2019
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