In December last year, domestic steel product consumption in Japan amounted to 3.71 million metric tons, falling by 0.8 percent compared to November and by 15.3 percent year on year, according to the data released by the Japan Iron and Steel Association (JISF). Meanwhile, in 2022, domestic steel consumption in the country dropped by 7.9 percent year on year to 46.56 million metric tons.
In the given year, steel product consumption in the construction sector in Japan moved down by 6.4 percent to 9.76 million metric tons, while steel product consumption in the Japanese automotive sector amounted to 10.67 million metric tons, down 9.7 percent, both on year-on-year basis. In the given period, Japan’s shipbuilding industry consumed 2.84 million metric tons of steel products, up 6.9 percent compared to 2021.