The Japan Iron and Steel Federation announced yesterday that Japan’s crude steel production is expected to remain stable by 2020 compared to 2019. According to World Steel Association, Japan’s crude steel output was recorded at 104.3 MnT in 2018.
Chairman Yoshihisa Kitano (President of JFE Steel) said,“ Regarding the outlook for FY’20, although it is difficult to forecast because there are many uncertainties such as US-China trade friction”. He also emphasized that domestic demand is weak, especially in the fields of construction and automobiles.
The Iron and Steel Federation also predicts exports will increase, making up for it.
Domestic demand in FY’20 is expected to decrease in the two main fields of shipbuilding and automobile manufacturing in addition to the construction field. On the other hand, in the civil engineering field, demand is expected to increase due to disaster recovery and measures to strengthen the national land.
~Inputs from Japan Metal Daily
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