Japan Steel Order Drops by 15% in October

Japanese steel makers’ order receipt decreased by 15.0% to 6.1 million tonnes in October from a year earlier, announced by Japan Iron and Steel Federation on Wednesday. The order decreased by 11.9% to 4.337 million tonnes from domestic buyers and by 22.6% to 1.641 million tonnes from offshore buyers.

The order from domestic buyers decreased by 6.9% to 1.975 million tonnes from manufacturers in October from a year earlier. The order decreased by 10.1% to 203,000 tonnes from industrial machinery, by 5.9% to 166,000 tonnes from electric machinery and by 9.9% to 952,000 tonnes from automobile while the order increased by 3.0% to 481,000 tonnes from ship.

The domestic order from construction decreased by 15.8% in October from a year earlier. The order decreased by 21.2% to 535,000 tonnes form building and by 3.1% to 262,000 tonnes from civil works.