Japan Raw Steel Output Hits 41 Years Low in 1H

Japanese raw steel output decreased by 40.7% to 36.69 million tonnes in January-June from same period of 2008, which represented the largest drop as half year of calendar year and the lowest level as first half year since 1968, announced by Japan Iron and Steel Federation on Tuesday. The output increased by 6.3% to 6.89 million tonnes in June from May, which increased for 2 months in a row, while the output was 33.6% lower than a year earlier.

The converter steel output decreased by 39.2% to 27.99 million tonnes in January-June from same period of 2008. The electric furnace steel output decreased by 45.2% to 8.7 million tonnes. The carbon steel output decreased by 36.8% to 30.43 million tonnes and the special steel output decreased by 54.4% to 6.27 million tonnes.

The national raw steel output decreased by 38.5% to 19.1 million tonnes in April-June from same period of 2008, which was the lowest level in 41 years as April-June. The output increased from 17.6 million tonnes in January-March but the output was less than 20 million tonnes for 2 quarters in a row.

Japanese major 5 steel makers’ raw steel output decreased by 38.9% to 27.94 million tonnes in January-June from same period of 2008. The output decreased by 30.9% to 5.2 million tonnes in June from a year earlier. The output increased by 8.7% from May and reached 5 million tonnes for the first time in 5 months.