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| Japan's FY2011 Crude Steel Output To Total 110M Tons: JISF |
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Japan's crude steel production is estimated to total nearly 110 million tons in fiscal 2011 (April 2011-March 2012), a production performance that would compare with what is expected to turn out in fiscal 2010, according to a survey by the Japan Iron & Steel Federation. The JISF describes the findings of its survey as follows. <>Japan's economy in fiscal 2010 was on a recovery track at first as if to follow an early recovery in the nation's exports to Asian destinations. Besides, capital spending and housing investment revived in a recovery of domestic demand in the wake of the government's economic stimulus measures. Meanwhile, domestic manufacturing industries such as autos enjoyed an upswing of demand for their products thanks to government measures like a subsidy system for consumers' purchases of eco-friendly cars. At present, though, Japan's economy is in a virtual state of marking time because export growth is slackening due to an appreciating yen and consumer spending is on the decline as if to reflect the termination of the government's economic stimulus measures. <>As to fiscal 2011, the ensuing fall is forecast both in consumer spending and industrial production due to the termination of the government's economic stimulus measures. But the growth rate of Japan's GDP is expected to stand at around a positive 1.2% for fiscal 2011 despite a slowdown of growth. For main factors, a mild recovery is likely for sectors like housing investment, while there are prospects of a steady upswing in Japanese steel exports to the world's emerging economies including China. <>Japan's crude steel production decreased in fiscal 2009 for two consecutive years in the repercussions of a fall in steel demand amid the world economic downturn, triggered by the collapse of Lehman Brothers Holdings Inc. But it is likely that nation's crude steel production will recover to a total of around 110 million tons in fiscal 2010 thanks to favorable steel exports to Asian destinations and a mild recovery of operations in manufacturing industries at home. <>Japan's domestic demand for steel products in fiscal 2011 is forecast to move sideways as a whole from the year before as steel demand from manufacturing industries, particularly from autos and consumer electronics, would fall off, while steel demand would stay on a recovery track relation to housing investment and capital spending. <>Japan's overall steel exports in fiscal 2011 could be assumed at a level of 40 million tons in steady demand growth, mainly among Asia's emerging economies, even though there are fears of an influence from new equipment start-ups in East Asia and an appreciating yen. <>Japan's crude steel production is estimated to total nearly 110 million tons in fiscal 2011 even though there are uncertain factors such as trends of the nation's steel exports/imports and fluctuations of domestic inventory levels that may influence nationwide crude steel production. |
| last modified : Mon 27 Dec, 2010 [10:49] |
