Japan Raw Steel Output Drops in October

Japanese raw steel output decreased by 2.7% to 10.097 million tonnes in October from a year earlier, announced by Japan Iron and Steel Federation on Wednesday. The output reached to 10 million tones for 8 months in a row while decreased from a year earlier for the first time since June 2006. The output level kept higher while electric furnace output and stainless steel output decreased. The output is expected to decrease in the last half of fiscal 2008 at ended of March 2009 when Japanese integrated steel makers plan to reduce the output.

The converter steel output decreased to 7.638 million tonnes by 0.2% in October from a year earlier, which decreased for the first time in 29 months. The electric furnace steel output decreased to 2.46 million tonnes by 9.7%, which decreased for 2 consecutive months.

The carbon steel output decreased by 3.8% to 7.809 million tonnes and the special steel output increased by 1.2% to 2.288 million tonnes.

The hot rolled steel output decreased by 2.7% to 9.009 million tonnes in October from a year earlier, which decreased for the first time in 29 months. The carbon steel hot rolled steel output decreased by 4.5% to 7.13 million tonnes and the special steel output increased by 5.0% to 1.879 million tonnes.

Japanese major 5 steels’ raw steel output decreased by 0.4% to 7.578 million tonnes in October from a year earlier, which maintained higher level.

Nippon Steel’s output was flat at 2.815 million tonnes in October from a year earlier. JFE Steel’s output increased to 2.568 million tonnes by 1.1%. Sumitomo Metal Industries decreased the output to 1.195 million tonnes by 0.3%. Kobe Steel decreased the output to 651,000 tonnes by 7.7%. Nisshin Steel’s output decreased to 348000 tonnes by 0.9%.