Japan's crude steel output fell in August, steel exports fell year-on-year

Japan's crude steel output fell in August, steel exports fell year-on-year

Summary

Japan's pig iron production in August was 6.407 million tons, down 2.6% and 5.1% year-on-year, respectively, which was the first year-on-year decline in three months.

According to data from the Japan Iron and Steel Federation, Japan's crude steel output in August was 8.116 million tons, down 3.2% and 7.8% from the previous year and the same period of the previous year. The average daily crude steel output in August was 262,000 tons, a decrease of 3.2% from the previous month. The main reason for Japans decline in crude steel production in August was the decline in demand in the construction industry. In addition, Japanese mills cut production to reduce distributors' domestic stocks, and once the inventory adjustment process is completed, mills will begin to increase production.