Japan's crude steel output increases in 2003 fiscal year

Japan’s crude steel output increases in 2003 fiscal year

Based on the data released by the Japan Iron and Steel Federation (JISF), Japan's crude steel output reached 110.98 million net tons in the fiscal year ending on March 31, 2004, up by 1.1% compared to previous fiscal. This tonnage was the highest figure recorded since 1990. The increase in output is attributed to the brisk exports, particularly to China. Furthermore, Japanese steelmakers are running their mills at full capacity due to the recovery in economy. In addition, strong domestic demand from the automobile, shipbuilding and industrial machinery industries has also affected the rise in steel output. Steel sheet output soared by 1.9% in the aforementioned period while steel bar output which uses as construction material decreased, according to JISF. Output of specialty steel surged by 7.2% and reached a record level of 22.7 million tons.