In October this year, Japan’s industrial production increased by 1.1 percent compared to the previous month and fell by 4.7 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 October the Japanese iron and steel production index increased by 6.5 percent year on year, while Japan’s seasonally adjusted iron and steel production index was down by 3.9 percent in October compared to September. Meanwhile, in October Japanese producers’ iron and steel shipments increased by 0.1 percent and iron and steel inventories increased by 0.7 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 nine percent in November and by 2.1 percent in December, both on month-on-month basis. Meanwhile, Japanese iron and steel production is expected to increase by 1.9 percent in November and to rise by three percent in December, month on month.