Japan's crude steel output drops by 5% y-o-y in May'23

Japan's crude steel output stood at 7.6 million tonnes (mnt) in May 2023, down 5.2% y-o-y, according to data released by the Japan Iron and Steel Federation (JISF). Though demand for automobiles is on a recovery trend, overall steel demand is weak due to sluggish construction steel demand, resulting in lower production by steel manufacturers.

However, output rose by 6% m-o-m compared to 7.2 mnt in April 2023.

In May, the average daily crude steel production stood at 247,000 tonnes (t) as against 241,000 t seen in the previous month.

Production volumes by furnace

Of the crude steel production recorded in May, converter steel stood at 5.6 mnt, decreasing by 5.6% y-o-y and electric furnace steel was at 2.045 mnt, down by 4% y-o-y.

Hot-rolled products

The volume of ordinary steel fell by 5% to 5.97 mnt, and that of special steel was 1.68 mnt, down 5.6%. Production volume of hot-rolled steel (ordinary steel and special steel) decreased by 3.7% to 6.76 mnt. Among ordinary steels, sales of thick and medium-sized plates, hot-rolled coils (HRCs), small steel bars, etc. decreased.

Note: This article has been written in accordance with an article exchange agreement between Japan Metal Daily and SteelMint.