According to the Japanese Ministry of Trade (METI), Japan’s crude steel output is forecast to decrease 4.2 percent year on year to 23.33 million mt in the April-June quarter this year, due to lower automobile production amid the global semiconductor chip shortage.
Total crude steel output in the January-June period this year is expected to be 46.41 million mt, down by 3.4 percent year on year.
In the April-June quarter this year, domestic demand for finished steel is forecast to fall by 0.6 percent year on year and to decrease by 1.6 percent quarter on quarter to 14.08 million mt, while finished steel exports are expected to decrease by 0.4 percent year on year and rise by 8.9 percent quarter on quarter to 6.9 million mt
Additionally, in the April-June quarter steel demand from Japan’s construction sector is forecast to increase by 0.2 percent year on year and fall by 6.7 percent quarter on quarter to 4.67 million mt, while steel demand from Japan’s manufacturing sector is expected to rise by 1.8 percent year on year and 1.2 percent quarter on quarter to 6.17 million mt.
