In February this year, Japanese crude steel production remained stable compared to the previous month, while it showed a smaller year-on-year decrease compared to the previous two months. The yen's retreat to an 11-month low against the US dollar last week will further boost Japan's steel exports in the following months, while a gradual increase in reconstruction demand in and after April will support domestic demand, the Japan Iron and Steel Federation (JISF) said.
According to the data released by the JISF, Japanese crude steel production in February amounted to 8.6 million metric tons, down 3.7 percent year on year. Meanwhile, the country's pig iron production in February this year totaled 6.4 million metric tons, decreasing by three percent both year-on-year and month-on-month.
In the January-February period of this year, the country's pig iron output stood at 12.96 million metric tons and its crude steel production came to 17.24 million metric tons, with decreases of seven percent and 7.3 percent both compared to the corresponding period of 2011.
Japan's steel product output tonnages in February 2012:
Product | January 2012 (mt) | Y-o-y change (%) | M-o-m change (%) |
Hot rolled section | 495,200 | 2.65 | 9.45 |
Bar | 833,400 | 5.9 | 6.9 |
Wire rod | 148,200 | -9.7 | 2.75 |
Heavy plate | 929,100 | -9.4 | -1.6 |
Hot rolled wide strip | 3,429,500 | -4.5 | -3.3 |
Cold rolled wide strip | 1,693,900 | -1.2 | -5 |
Galvanized sheet | 1,004,600 | 0.8 | -1.5 |
Welded pipe | 304,200 | -7.6 | 1.9 |