Japanese steel mills to lift Jul-Sep output by 1.5% on year to 16.04 mil mt: survey

Release time：Aug 12, 2019 From：admin

Japanese steelmakers plan to lift crude steel production to 16.04 million mt over July-September, up 1.5% on year and edging down 0.3% from April-June, the latest survey by Japan’s Ministry of Economy Trade and Industry showed.

A trader in Tokyo attributed the year-on-year increase to natural disasters impacting output in the July-September 2018 comparison period.

“So the mills’ plan for output is higher on year but slightly lower on quarter because stocks of steel products for domestic supply are still at a high level,” he said.

Another trader in Tokyo said that while domestic demand was expected to remain firm, demand for construction might have peaked as major construction projects for the 2020 Tokyo Olympics had been completed. “But there are other construction projects, so the demand drop won’t be large,” he said.

Finished steel output for the domestic market was forecast at 14.46 million mt for July-September, down 2.7% on year and down 5.3% from April-June, while output for export was forecast at 7.75 million mt, up 7.8% onyear and up 10.8% on quarter, according to the survey.

The production plan for H-beams for the quarter was 940,000 mt, down 3.3% on year and down 1% from April-June, and for small bars 1.99 million mt, down 4.7% on year and down 8% on quarter, the survey showed.

METI officials involved in the survey were not available for comment Friday.
Source: Platts

https://www.hellenicshippingnews.com/japanese-steel-mills-to-lift-jul-sep-output-by-1-5-on-year-to-16-04-mil-mt-survey/