Affected by the epidemic, Japan's crude steel production in 2020 drops by 16%

  • Monday, January 25, 2021
  • Source:ferro-alloys.com

  • Keywords:Japan's crude steel
[Fellow]Affected by the epidemic, Japan's crude steel production in 2020 drops by 16%

Ferro-alloys.com:In 2020, the world’s third-largest steel producer, Japan’s crude steel production fell 16.2% from the previous year. The new crown epidemic has led to a sharp drop in demand in industries such as automobiles and construction, forcing steel manufacturers to limit output.

The Japan Iron and Steel Federation announced on Friday that last year's unseasonally adjusted steel production fell for the sixth consecutive year to 83.19 million tons.

According to Kyodo news agency, this is the lowest annual output since 1969.

From October to December last year, steel production fell by 7.0% year-on-year to 21.99 million tons.

Production in December was 7.53 million tons, a year-on-year decrease of 3.3%, the 10th consecutive month of decline, but an increase of 3.6% from November.

From April to July last year, Japan’s two major steelmakers, Nippon Steel and JFE Steel, were forced to temporarily shut down several blast furnaces in response to the decline in demand caused by the epidemic.

However, since September last year, as demand in the automotive industry picked up, some operations have resumed.

Nevertheless, Japan’s Ministry of Economy, Trade and Industry (METI) predicted last month that Japan’s crude steel production in the first three months of 2021 may fall by 2.5% year-on-year as the epidemic continues to put pressure on the construction and shipbuilding industries.

 

  • [Editor:zhaozihao]

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