According to the Japanese Ministry of Trade (METI), Japan’s crude steel output is forecast to increase 0.8 percent quarter on quarter to 25.69 million mt in the October-December quarter this year, from 25.48 million mt in the July-September quarter, contrary to expectations.
Domestic demand for finished steel is forecast to rise by 1.8 percent over the previous quarter to 15.73 million mt, while exports are expected to decline by 0.4 percent to 7.2 million mt. Additionally, demand for ordinary steel from the construction sector is forecast to increase by 3.5 percent to 5.52 million mt compared to the previous quarter. From the machinery sector, demand is anticipated to rise 4.5 percent from the July-September quarter to 1.3 million mt.
Looking at annual comparisons, forecasts for crude steel output, domestic demand and exports all went down.