Japan Raw Steel Output Hits Year-High in July

Japanese raw steel output increased by 11.3% to 7.66 million tonnes in July from June, which increased for 3 months in a row, announced by Japan Iron and Steel Federation on Wednesday. The production reached 7 million tonnes for the first time since December 2008 when the output kept increasing from the bottom mainly while the level was 24.9% lower than a year earlier production. The production could keep increasing in and after August when major steel makers plan to increase the output to meet higher demand.

The converter steel output increased by 15.7% to 6.016 million tonnes in July from June, which increased for 3 months in a row and reached 6 million tonnes for the first time since November 2008. The electric furnace steel output decreased by 2.2% to 1.644 million tonnes, which was the first drop in 4 months. The production was 21.6% lower for converter steel and 34.7% lower for electric furnace steel than a year earlier level.

The carbon steel production increased by 10.2% to 6.271 million tonnes in July from June while the special steel output increased by 16.4% to 1.388 million tonnes. The production increased for 3 months in a row for carbon steel and for 5 months in a row for special steel while the production decreased for 10 straight months and 9 straight months respectively in year to year basis.

The hot rolled products’ output increased by 9.1% to 6.829 million tonnes in July from June, which increased for 3 months in a row. The carbon flat steel output increased by 13.5% to 4.211 million tonnes while the carbon steel long products output decreased by 5.6% to 1.417 million tonnes.