Overseas demand for Japanese steel products to fall
The Japanese Ministry of Trade indicates that the demand for Japanese steel products may fall 3.8 percent in the fourth quarter due to weak demand from overseas.
The ministry said that overall demand for Japanese steel will decline to 25.5 million tons in the final quarter, although the domestic demand remains strong. Furthermore, steel output is expected to fall to 27.8 million tons during the quarter, down 3.3 percent.
Meanwhile,
Japan's domestic demand for steel is expected to increase 2.1 percent, to 19.94 million tons, in the fourth quarter due to strong sales to automakers and shipbuilders.