In March this year, Japan's industrial production increased 0.2 percent over the previous month, showing a month-on-month increase for the fourth consecutive month. Japan's industrial output showed a decrease of 7.3 percent from March in the previous year, according to the preliminary indices of the Industrial Production report published by Japan's Ministry of Economy, Trade and Industry (METI).
The Japanese iron and steel production index in the month in question decreased by 2.5 percent year on year, while Japan's seasonally adjusted iron and steel production index rose 2.1 percent in March compared to February. Meanwhile, in March Japanese producers' iron and steel shipments rose by 1.3 percent and iron and steel inventories were up by 1.5 percent, both compared to the previous month.
On the other hand, according to the ministry's preliminary Current Survey of Production report, in March this year Japan produced 7.2 million mt of pig iron, up 2.2 percent, 85,696 mt of ferroalloys, up 2.9 percent, 9.45 million mt of crude steel, up 1.3 percent, and 9.2 million mt of semi-finished steel, up 1.6 percent, all compared to March 2012.
According to the ministry's Survey of Production Forecast in Manufacturing, Japanese industrial production shows signs of picking up at a moderate pace. The production is expected to increase by 0.8 percent in April and to decrease 0.3 percent in May, both month on month.