Japan Steels’ Carbon Steel Order Drops to 40-Year Bottom in Dec08

Japanese steel makers’ carbon steel order receipt decreased by 36.7% to 4.387 million tonnes in December from a year earlier, announced by Japan Iron & Steel Federation on Thursday. The order volume hit the bottom since June 1969, which represented year-on-year decrease for 5 straight months and whose minus range was historically wide exceeding 33.2% decline in November 2008.

The domestic order receipt from manufacturers decreased by 29% to 1.513 million tonnes in December from a year earlier, which showed year-on-year decline for 5 straight months. The order volume decreased from all manufacturing categories other than shipbuilding.

Carbon steel order receipt totaled 76.552 million tonnes through January-December 2008. The annual order volume decreased year-on-year for the first time since 2005, which was as much as 2005.