December 02, 2008

Japan steel industry sets sights on record

Japan’s ministry of economy, trade and industry said that Japan's crude steel production likely will reach a new record high this year of about 119.48 million tons, up by 2.8%YoY from 2006, on the back of brisk demand including for vehicles.

The level of output will be above the existing record high of 119.32 million tons set in 1973 amid the era of high speed growth in Japan. It added that demand is strong from the manufacturing sector as a whole, including automakers who are stepping up exports, shipbuilders and industrial machine makers.

Crude steel output in the January to June 2007 period came to 59.42 million tonnes a record for a half year period.