Japanese crude steel production in H1 rose by 2.8%

Japanese crude steel production in H1 rose by 2.8%

According to market reports major Japanese integrated steel producers have raised crude steel production by 2.8% reaching to 40.58 million tons in the first half of fiscal year ending in March 2004. Another high production level is expected for the second half of the fiscal year. Strong demand from Asia, particularly from China, played an important role in production increase which helped achieving half of the targeted 80 million tons for the current fiscal year. Besides, good demand from domestic industries, such as automotive and shipbuilding, had its positive effect on this rise. On the other hand, it is stated that these companies consider to lower supply to the domestic market as a precaution due to increasing domestic inventory.