Regarding an outlook of steel production of 2012, Mr Eiji Hayashida chairman of Japan Iron & Steel Association and also president of JFE Steel said that "About domestic demand, rehabilitation demand will come out from April 2012 but demand from the automotive industry will remain flat, and that from the shipbuilding industry will decrease. About export, the level of the latter half of last year is thought to be to the utmost. Taking into account these factors, steel production of this year is foreseen to fall by 2 to 3 million tonnes from 2011. However, I do not assume its level dipped below 100 million tonnes."

He also presented an outlook of ordinary steel export as 25 million tonnes, decreasing by 3 to 4 million tonnes.

(Sourced from TEX Report Limited)