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| Jan-Mar'09 Japanese Crude Steel Output To Total 21.1M Tons: METI |
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Japan's crude steel production is estimated to total 21,100,000 tons in January-March 2009 or in the fourth quarter of fiscal 2008 (April 2008-March 2009), down 31.6% or 9,740,000 tons from January-March 2008 and down 22.0% or 5,950,000 tons from October-December 2008, according to the demand survey for January-March 2009 by the Ministry of Economy, Trade & Industry (METI). The estimate means a low level of Japan's fourth-quarter crude steel production for the first time in 39 years since the fourth quarter of fiscal 1969 when production stood at a total of 18,280,000 tons. The following are what METI describes as the prospects of the nation's steel demand in January-March 2009. Demand for ordinary steel products Demand is estimated to total 18,070,000 tons, down 20.2% or 4,570,000 tons from a year ago and down 8.9% or 1,770,000 tons from a quarter ago. Of the estimated demand, domestic demand accounts for 13,810,000 tons, down 14.3% or 2,300,000 tons from a year ago and down 8.1% or 1,210,000 tons from a quarter ago. Demand for specialty steel products Demand is estimated to total 3,590,000 tons, down 37.7% or 2,170,000 tons from a year ago and down 24.7% or 1,170,000 tons from a quarter ago. Of the estimated demand, domestic demand accounts for 2,600,000 tons, down 37.6% or 1,570,000 tons from a year ago and down 24.5% or 850,000 tons from a quarter ago. METI's perspective The demand environment for steel products has deteriorated considerably, compared with the ministry's previous demand survey. Corporate activities are on the decline amid a rapid economic downturn both at home and abroad. Steel demand for construction in January-March 2009 is expected to show a more fall than in the same period of 2008 when construction demand was influenced by the revised Building Standards Law. Also, steel demand from manufacturing industries in January-March 2009 is expected to come under a more decline than in the same period of 2008 because major production adjustments are under way in most of the demand industries such as autos. As a result, the nation's demand for steel products is estimated to total 21,660,000 tons in January-March 2009, down 12.0% or 2,940,000 tons from a quarter ago. |
| last modified : Wed 07 Jan, 2009 [10:37] |
