According to data released by the Japan Iron and Steel Federation (JISF), the country's crude steel production was recorded as 6 million 924.9 thousand tons in October, down 7.8% compared to the same period last year. However, this figure increased by 4.6% compared to the previous month.
Production of hot rolled steel products also fell by 8.3% y-o-y to 5 million 994.8 thousand tons. On a monthly basis, there was a decrease of 0.6%.
Pig iron production, on the other hand, decreased by 6.1% y-o-y to 5 million 75.4 thousand tons in October, while it increased by 5.7% compared to the previous month.
Electric arc furnace production also declined on both annual and monthly basis. Production fell by 0.3% year-on-year and 10.5% m-o-m to 1 million 823.5 thousand tons.
This decline in Japan's steel production once again demonstrated how the sector is affected by the current global demand and supply dynamics.
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