Japan's Ministry of Economy, Trade and Industry (METI) states that steel production in the country is recovering. According to METI data, Japan's steel production will reach 22 million tons in the fourth quarter of 2023, 4% more than in the third quarter.
Japan produced 58 million tons of steel in the first eight months of 2023, a 3% decrease compared to the same period in 2022.
According to METI data, domestic steel product consumption in the fourth quarter of 2023 will exceed the third quarter. According to the research, the demand for rolled products in industry, including industries such as automobile and shipbuilding, is increasing in the country.
When we look at exports, a different situation is seen. It is predicted that in the last period of 2023 it will decrease by 2% compared to the previous quarter and will be approximately 6 million tons.
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