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METI: Japan’s steel demand to rise in Q3
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The Japanese Ministry of Economy, Trade and Industry (METI) recently predicted that Japan’s steel demand would rise slightly in the Q3.
METI estimated that the demand for finished steel products would be at 24.70 million tons in the Q3, up slightly by 0.7% from a quarter earlier and increasing by 1.6% year on year.
Among them, the demand for finished steel products from the domestic market will be at 15.92 million tons, up by 2%; that from export market will be at 8.78 million tons, down by 1%, both compared to that in a quarter ago.
Meanwhile, the demand from the construction industry will rise, driven by the reconstruction after the disaster and that from the automobile industry will remain firm; however, the demand from the manufacturing industry will slide.
In addition, METI predicted that the steel demand from the Japanese shipbuilding industry would be at 11.40 million tons in the Q3, falling by 6% from a quarter earlier and decreasing by 20.4% year on year.
News Date
7/3/2012 10:55:51 AM
reported by
Sancia Li
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