Japan Raw Steel Output Hits Record as 1H

Japanese raw steel output increased by 4.2% to 61.9 million tonnes for January-June 2008 from the same period of 2007, which hit the record as a first half year, announced Japan Iron and Steel Federation on Friday. The output represented month-to-month increase for 5 half years in a row. The demand keeps firm from manufacturing industries despite of the decline of domestic construction market. The output could exceed annual record 120.2 million tonnes in 2007 at the current pace.Converter steel output increased by 5.3% to 46.03 million tonnes for January-June 2008 from the same period of 2007 while electric furnace steel output increased by 0.9% to 15.87 million tonnes. Carbon steel output increased by 4% to 48.14 million tonnes and special steel output increased by 4.7% to 13.76 million tonnes. Special steel output exceeded record 13.14 million tonnes in 1H07.The output of hot rolled steel products increased by 3.2% to 55.58 million tonnes for January-June from the same period of 2007, which exceeded record 54.36 million tonnes in 2H07. Carbon steel products increased by 2.7% to 44.2 million tonnes while special steel products increased by 5.3% to 11.38 million tonnes. Special steels hit the record high as a half year.Japanese raw steel output increased by 3.9% to 10.37 million tonnes in June from a year earlier, which represented year-on-year increase for 25 consecutive months. The output hit the record as June. Converter steel output increased by 4.1% to 7.57 million tonnes and electric furnace steel increased by 3.6% to 2.8 million tonnes. Converter steel represented y/y increase for 25 straight months while electric furnace steel increased y/y for the first time since April 2008.