In June this year, Japan’s industrial production increased by 6.2 percent compared to the previous month and rose by 22.6 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 June the Japanese iron and steel production index increased by 51.2 percent year on year, while Japan’s seasonally adjusted iron and steel production index was up by 3.2 percent in June compared to May. Meanwhile, in June Japanese producers’ iron and steel shipments increased by 11.4 percent and iron and steel inventories decreased by 2.3 percent, both compared to the previous month.
According to the ministry’s Survey of Production Forecast in Manufacturing, Japanese industrial production is expected to decrease by 1.1 percent in July and to increase by 1.7 percent in August, both on month-on-month basis. Meanwhile, Japanese iron and steel production is expected to increase by 4.8 percent in July and to fall by 2.0 percent in August, month on month.