Tag: Japan: Crude steel production falls for second consecutive year

Japan, the world’s third-largest steelmaker, saw its crude steel production declining by 2.5% y-o-y to 86.99 million tonnes (mnt) in CY’23, marking the second consecutive year of decline and falling below 90 mnt for the first time since 2020. The decline is due to subdued demand from manufacturing and construction sectors, coupled with China’s increased…