Japan’s Ministry of Economy, Trade and Industry has stated that Japanese steel mills plan to produce 27.6 million tons of crude steel in the third quarter, which is a 4.5% increase from the previous quarter, but only a year-on-year increase of 0.7%. A spokesman for the Ministry of Economy, Trade and Industry indicated that most of the Japanese steel mills have recovered from the earthquake on March 11th. The level of production of downstream steel users, including automobile manufacturers, is increasing, and steel mills also plan to increase production to meet demand. The rise.
The spokesperson also pointed out that, despite this, Japanese steelmakers still need to be cautious in increasing production to meet actual demand. Steel producers need to consider factors such as power curtailment and the appreciation of the yen, and the demand for steel from post-disaster reconstruction is still relatively low. Low, it is unlikely to show significant growth in the third quarter.
Japan's production of carbon steel in the third quarter is expected to increase by 5.1% from the previous quarter to 18.98 million tons, and special steel production will reach 5.05 million tons, a 13.2% increase from the previous quarter. During the summer break, Japan's EAF steel output will be reduced, so the proportion of converter steel in steel production may increase. About 35% of Japan's steel output is used for export. As part of Japanese steel exports are delivered through long-term contracts, they will not be affected by the sharp fluctuations in the exchange rate. However, other parts of steel exports will be affected by the appreciation of the yen, which means that Japanese steel will lose prices in the international market.
The spokesperson also pointed out that, despite this, Japanese steelmakers still need to be cautious in increasing production to meet actual demand. Steel producers need to consider factors such as power curtailment and the appreciation of the yen, and the demand for steel from post-disaster reconstruction is still relatively low. Low, it is unlikely to show significant growth in the third quarter.
Japan's production of carbon steel in the third quarter is expected to increase by 5.1% from the previous quarter to 18.98 million tons, and special steel production will reach 5.05 million tons, a 13.2% increase from the previous quarter. During the summer break, Japan's EAF steel output will be reduced, so the proportion of converter steel in steel production may increase. About 35% of Japan's steel output is used for export. As part of Japanese steel exports are delivered through long-term contracts, they will not be affected by the sharp fluctuations in the exchange rate. However, other parts of steel exports will be affected by the appreciation of the yen, which means that Japanese steel will lose prices in the international market.
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