Japan is world's second largest crude steelmaker

Japan is world’s second largest crude steelmaker

Japan's crude steel production amounted to 9.28 million mts in December 2003, decreased by 0.2% compared to 9.29 million mts recorded in the same period of last year. However, Japan was the world's second largest producer with a 2003 production of 110.5 million mts. The increase in year-to-date production is attributed to the recover of domestic demand and strong exports to China. Meanwhile, Japanese industry earnings led by Nippon Steel Corp and JFE Holdings, show an upward trend as increasing demand for steel sheet in China helped steelmakers increase prices.