In June this year, Japan's industrial production decreased 3.3 percent from the previous month, showing a month-on-month decrease after four consecutive months of increase. Japan's industrial output showed a decrease of 4.8 percent from June in the previous year, according to the preliminary indices of the Industrial Production report published by Japan's Ministry of Economy, Trade and Industry (METI).
The Japanese iron and steel production index in the month in question decreased by 3.2 percent year on year, while Japan's seasonally adjusted iron and steel production index fell 3.8 percent in June compared to May. Meanwhile, in June Japanese producers' iron and steel shipments fell by 5.4 percent and iron and steel inventories were up by 4.4 percent, both compared to the previous month.
On the other hand, according to the ministry's preliminary Current Survey of Production report, in June this year Japan produced 6.9 million mt of pig iron, up 0.9 percent, 9.3 million mt of crude steel, up 0.9 percent, and 9.1 million mt of semi-finished steel, also up 0.9 percent, all compared to June 2012.
According to the ministry's Survey of Production Forecast in Manufacturing, Japanese industrial production shows signs of picking up at a moderate pace. The production is expected to increase 6.5 percent in July and to decrease 0.9 percent in August, both month on month.