In July this year, Japan’s industrial production decreased by 1.5 percent compared to the previous month and rose by 11.6 percent compared to the same month in 2020, 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 July the Japanese iron and steel production index increased by 36.8 percent year on year, while Japan’s seasonally adjusted iron and steel production index was up by 1.3 percent in July compared to June. Meanwhile, in July Japanese producers’ iron and steel shipments decreased by 3.3 percent and iron and steel inventories increased by 0.4 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 3.4 percent in August and by 1.1 percent in September, both on month-on-month basis. Meanwhile, Japanese iron and steel production is expected to decrease by 0.4 percent in August and to rise by 2.3 percent in September, month on month.