In August this year, domestic steel product consumption in Japan amounted to 3.79 million metric tons, declining by 1.3 percent compared to July and by 6.7 percent year on year, according to the data released by the Japan Iron and Steel Association (JISF). Meanwhile, in the January-August period this year, domestic steel consumption in the country declined by seven percent year on year to 31.47 million metric tons.
In the first eight months of this year, steel product consumption in the construction sector in Japan dropped by 3.9 percent to 6.61 million metric tons, while steel product consumption in the Japanese automotive sector amounted to 7.13 million metric tons, down 13.9 percent, both on year-on-year basis. In the given period, Japan’s shipbuilding industry consumed 1.90 million metric tons of steel products, rising by 14.1 percent compared to the same period of the previous year.