Japan crude steel production decreased for 4 consecutive months

According to the data released by the Japan Iron and Steel Union on the 21st, the crude steel production in October this year decreased by 4.9% to 8.157 million tons compared with the same period last year. The main reason for the decline of steel production is the interruption of transportation supply chain caused by Typhoon "haibeisi" landing in Japan this year for four consecutive months. In addition, the increase of consumption tax rate by the Japanese government in October also restrained the steel demand to some extent.

Japan's Iron and Steel Alliance said that the current world economic outlook is unclear, the export of machine tools and other equipment is sluggish, the steel demand brought about by the Tokyo Olympic Games and Paralympic Games has come to an end, and the domestic steel production in Japan will maintain a relatively low level for some time in the future.

In terms of varieties, in October this year, the output of common steel widely used in the automobile industry decreased by 2.5% to 6.279 million tons year on year, and the output of high-strength special steel decreased by 12.2% to 1.878 million tons year on year for four consecutive months, and decreased for 11 consecutive months year on year.

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