In April this year, Japan’s industrial production dropped by 1.5 percent compared to the previous month and by 4.9 percent compared to the same month in 2021, according to the preliminary indices of the Industrial Production report published by Japan's Ministry of Economy, Trade and Industry (METI).
On the other hand, in April the Japanese iron and steel production index decreased by 6.7 percent year on year, while Japan’s seasonally adjusted iron and steel production index was down by 1.4 percent in the given month compared to March. Meanwhile, in April Japanese producers’ iron and steel shipments increased by 0.3 percent and iron and steel inventories were down by 2.8 percent, both compared to the previous month.
According to the ministry’s Survey of Production Forecast in Manufacturing, Japanese industrial production is expected to increase by 4.8 percent in May and to rise by 8.9 percent in June, both on month-on-month basis. Meanwhile, Japanese iron and steel production is expected to increase by 4.2 percent in May and to decline by 4.1 percent in June, month on month.