According to the Japanese Ministry of Trade (METI), Japan’s crude steel output is forecast to decrease 27.9 percent year on year to 17.7 million mt in the July-September quarter this year, reaching its lowest level in 11 years due to lower demand from major consumers amid the coronavirus pandemic.
Domestic demand for finished steel is forecast to fall by 22.1 percent year on year in the given quarter to 11.97 million mt, while exports are expected to drop by 28.6 percent year on year to 5.3 million mt, recording their lowest level since the April-June quarter of 2009. Additionally, in the July-September quarter demand for ordinary steel from the construction sector is forecast to decrease by 13.5 percent to 4.53 million mt compared to the same quarter of the previous year. As regards the machinery sector, demand is anticipated to decline 33.1 percent year on year to 880,000 mt.