Japan's Ministry of Economy, Trade and Industry is expected to reduce crude steel output by 0.3% from July to September. Exports will increase

Japan's Ministry of Economy, Trade and Industry is expected to reduce crude steel output by 0.3% from July to September. Exports will increase

Summary

Japan's Ministry of Economy, Trade and Industry is expected to reduce crude steel output by 0.3% from July to September. Exports will increase

According to the forecast of the second quarter of the 2019 fiscal year (July-September) of the Ministry of Economy, Trade and Industry of Japan, crude steel output will fall by 0.3% year-on-year to 26.04 million tons. Steel production has generally increased, but due to the decline in construction and industrial machinery, Japans domestic steel demand has declined and exports have increased. According to the Ministry of Metals of the Ministry of Industry, while domestic demand slows in Japan, overseas uncertainty is also increasing, such as international trade friction. Japanese steel companies are looking for new demand and adjusting inventory.