Reuters reported that Japan’s Ministry of Economy, Trade & Industry said that Japan's crude steel output is expected to fall 4.2% in the April-June quarter from a year earlier amid slow automobile production due to a shortage of chips and components, marking the second straight quarterly decline. METI estimated crude steel output at 23.33 million tonnes for the three-month period, down from 24.35 million tonnes a year earlier, but it will book a 1.1% increase from 23.08 million tonnes in the January-March quarter.Demand for steel products, including those for exports, is predicted to decline 0.5% to 20.98 million tonnes in April-June versus a year earlier, while exports are forecast to fall 0.4% to 6.9 million tonnes. METI said “There is a risk of a further downturn in demand due to supply constraints for semiconductors and other components and the impact of the conflict between Russia and Ukraine.”
Reuters reported that Japan’s Ministry of Economy, Trade & Industry said that Japan's crude steel output is expected to fall 4.2% in the April-June quarter from a year earlier amid slow automobile production due to a shortage of chips and components, marking the second straight quarterly decline. METI estimated crude steel output at 23.33 million tonnes for the three-month period, down from 24.35 million tonnes a year earlier, but it will book a 1.1% increase from 23.08 million tonnes in the January-March quarter.Demand for steel products, including those for exports, is predicted to decline 0.5% to 20.98 million tonnes in April-June versus a year earlier, while exports are forecast to fall 0.4% to 6.9 million tonnes. METI said “There is a risk of a further downturn in demand due to supply constraints for semiconductors and other components and the impact of the conflict between Russia and Ukraine.”
