The Japanese Prime Minster announced on 25 May that the national state of emergency has ended, signifying that economic activity can slowly restart in important growth areas including Osaka, Yokohama and Greater Tokyo. This brought little optimism for the country’s economic outlook, however. Its infrastructure and construction sectors, the primary consumers of long steel products, were largely driven by the tourism industry in 2019—an industry which has suffered greatly from the pandemic since then.
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