Japan’s crude steel output to touch 27.7 Mt in Q1 this fiscal: METI

Author: Paul Ploumis15 May 2014 Last updated at 06:08:06 GMT

TOKYO (Scrap Monster):According to Japanese Ministry of Economy, Trade & Industry (METI), the country’s crude steel production is likely to touch 27.7 Million tonnes (Mt) during the first three months of the current fiscal, ie., the period from April to June this year. The METI forecast is based on data provided by various steel companies in the country. The crude steel output during the period is 0.5% higher when compared with the previous quarter.

The crude steel production estimates are 2.6% higher than the demand estimates. METI forecasts crude steel demand to reach 27.01 Mt for the quarter. However, upon comparison with the actual production figures during the same quarter last year, the estimated production volume is down 1.3%. The country’s total crude steel production during April to June in 2013 was 28.07 Mt.

METI expects the total production of ordinary steel products by the country to reach 19.14 Mt, 2% higher when compared with the total production of 18.76 Mt during the same quarter in 2013 fiscal. Out of this, 12.55 Mt are meant for domestic sales and the remaining 6.59 Mt are intended for export.

The total output of H-beams is projected at 1.06 Mt, 1.7% higher over the previous year. Small bars production is expected to decline by 2.7% from the same quarter fiscal 2013 to 2.38 Mt during April to June this fiscal.

METI projects the total production of special steel products by the country to reach 5.09 Mt, 0.8% higher when compared with the total production of 5.05 Mt during the same quarter in 2013 fiscal. Out of this, 3.29 Mt are meant for domestic sales and the remaining 1.80 Mt are intended for export.