Japan steel output to decline by 1.3%
Based on the data released from Japan Ministry of Economy, Trade and Industry, Japanese crude steel output will decline by 1.3% to 27.707 million tons in October-December period, when compared with the figures recorded in the same period of 2002. This is the first decrease recorded in the last seven quarters. On the other hand, the output increases by 0.6% from the period of July-September period. The Ministry also states that integrated steel producers decreased output to about 600'000 tons from the previous quarter to reduce local inventory, however electric furnace mills increased production to meet increasing demand from construction and automotive sectors.