Japan Raw Steel Output Hits Highest Level in January

Japanese raw steel output increased by 6.5% to 10.068 million tonnes in January from a year ago, announced by Japan Iron and Steel Federation on Tuesday. The output was 10th highest as a month and exceeded 10 million tonnes for 4 consecutive months. The monthly output increased from a year ago for 8 straight months. The output amount for April 2006-January 2007 increased by 4.4% to 98.286 million tonnes. The output has increased for both converter steel and electric furnace steel thanks to the strong demand for domestic market and export. The annual output is expected to reach 117.5 million tonnes for fiscal 2006 ending March, the level the Federation prospected in December 2006. The converter steel output increased by 7.2% to 7.641 million tonnes in January from a year ago while the electric furnace steel output increased by 4.4% to 2.427 million tonnes. The converter steel output increased for 8 consecutive months and the electric furnace steel for 14 months. The carbon steel output increased by 7.3% to 7.827 million tonnes in January from a year ago while the special steel output increased by 3.7% to 2.241 million tonnes. The special steel output exceeded record 2.218 million tonnes marked in October 2006.