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Japan's crude steel output to fall further between Oct & Dec—The 21st China(Guangzhou)Int’l Heat Treatment, Industrial Furnace Exhibition
10/20/2019 热处理展-工业炉展-heat treatment expo-furnace expo |
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According to the announcement from the Japanese Ministry of Economy, Trade, and Industry, because of the trade tensions and economic uncertainty, exports were expected to decline by 0.1% from October to December.
According to the Ministry of Commerce, crude steel production was expected to be 25.69 million tons, compared with 25.7 million tons in the same period last year, the output fell for the fifth consecutive quarter.
Output in the current quarter was expected to rise by 0.8% from the previous quarter. Demand for steel products, including exports, was expected to fall 2.9% year-on-year, came to around 23 million tons.
Exports, which typically accounted for about 40% of Japanese steel production, were expected to fall by 1.4%.
Escalating trade tensions and uncertainty over China''s economic outlook were expected to continue to weigh on exports and production, according to the metal industry division of Japan''s Ministry of economy, trade, and industry and said production could be lower than the latest forecast because it did not reflect the recent shutdowns at some steel plants.
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