Japan’s steel shipments expected to rise

Japanese steel producers’ steel shipments are expected to reach 50 million tons by March 2007. This figure, which will be a 16-year high, is expected to increase mainly due to the strong demand for high-grade steel materials from automakers and shipbuilders. Major steelmakers expect demand for ordinary steel from automakers to increase 2 percent year on year to about 13.5 million tons by March 2007. Domestic automobile production, including auto parts for use in assembling vehicles overseas, is expected to increase 5 percent, while steel demand from shipbuilders is projected to increase 2 percent to about 5.8 million tons.