Japan will raise crude steel output this year
Japanese integrated steel makers are planning to raise crude steel output by 800'000 tons to 80 million tons in 2003/2004 fiscal year ending in March 2004 compared to previous fiscal year. In Japan, the rise of production is forecasted to be mainly of flat products with the rising exports as well as good demand from the automotive and shipbuilding industries. Nippon Steel expects that it produces 15 million tons of crude steel in the first half of current fiscal year in line with same period of last year. JFE Steel is aiming to increase its output by 200'000 tons to 13.4 million tons. Total crude steel output by five major integrated steel makers is estimated to be 40.3 million tons for the aforementioned period. Sumitomo Metal Ind. and Kobe Steel also estimate same production level of 40.3 million tons in the second half of fiscal 2003/2004. Due to blast furnace relining, Nisshin Steel estimates a limited scale in output increase. Despite the explosion at Nagoya Works, Nippon Steel expects 15 million tons of crude steel output in the same period.