Japanese steel production is expected to grow

According to forecasts published by the Japanese Ministry of Economy, Trade and Industry (METI), crude steel production in Japan will grow in the second quarter (April to June) up 28.3% year on year to about 23.24 million tonnes.

During this period, Japanese demand for finished steel is expected to rise 20.3% year-on-year to about 13.7 million tonnes, while finished steel exports are expected to rise 21.1% year-on-year to 6.9 million tonnes due to possible economic consequences. recovery.

In addition, demand for conventional steel from the construction industry was projected to fall 1.5% year-on-year to 4.6 million tonnes, while mechanical engineering demand would rise 25.5% year-on-year to about 1.2 million tonnes. .

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