JISF sees Japan’s crude steel output down by 2% in FY2012/13
The Japan Iron and Steel Federation (JISF) forecasted that Japan’s crude steel output will decline by 2% or 2 million tons to 104 million tons in the fiscal year 2012/13, starting from April 1st if the country remains its export level firm.
Mr. Eiji Hayashida, the chairman of JISF said that the steel demand from shipbuilding industry will drop by 20% or 1 million tons in fiscal year 2012/13.
In fact, Japanese crude steel output has slid after the severe floods in Thailand cut the Japanese steel manufacturers’ supply chain.
However, the recovering steel demand from Asian market has pushed up Japan’s steel exports, boosting the country’s crude steel production to reach 106 million tons this year.
In addition, JISF indicated that the country’s domestic demand will remain unstable while the Japanese steelmakers may turn to export market since the Japanese Yen is appreciating.
News Date 28 Mar 2012 12:00:50 reported by Nann Cheng