Japan 5 Integrated Steels’ Crude Steel Downs by 11.8% through F2008

Crude steel production by Japanese 5 integrated steel makers totaled 79.34 million tonnes through fiscal 2008 (Apr08-Mar09), which decreased by 11.8% or 10.63 million tonnes from fiscal 2007. The annual production totaled less than 80 million tonnes for the first time since fiscal 2002. The output shrank by more than 10% at Nippon Steel, JFE Steel, Kobe Steel and Nisshin Steel. Nippon Steel’s output represented below 30 million tonnes for the first time since fiscal 2002. JFE Steel’s production hit the lowest since the firm’s establishment in fiscal 2003.

Monthly crude steel production by these 5 makers was 4.45 million tonnes in March, down by 44% from a year earlier. Averaged output per day lowered to 144,000 tonnes in March from 149,000 tonnes in February though monthly production increased by 6.6% compared with February.

As to pig iron, the 5 integrated steels’ production totaled 78.59 million tonnes through fiscal 2008, which decreased by 10.6% from fiscal 2007 and became the lowest level since 76.49 million tonnes in fiscal 1999. The annual production represented year-on-year minus and below 80 million tonnes for the first time since fiscal 2001. Monthly output in March totaled 4.69 million tonnes, decreasing by 38.5% from a year earlier.