According to the Japan Iron and Steel Federation (JISF), Japan's crude steel output totaled around 6.9 million tons in February this year, falling by 4.3% compared to the previous month and by 5.3% from the same month a year ago. The decrease was mainly due to weak demand and higher costs.

Among them, the output from blast furnaces was 5.1 million tons, down by 5.6% year on year, and that from electric furnaces was 1.9 million tons, sliding by 4.5% year on year.

The output of electric furnace steel was expected to increase by 7% year on year in the first quarter of this year because electric furnace steel mills sharply boosted their production during the period before the domestic electricity price hikes in April.