Crude Steel Production During July-September Quarter, 22.31 Million Tons / To See Increase for First Time in 7 Quarters, Yet Production to Still Remain at Low Levels

摘要

METI announced their predictions of steel product demand during the second quarter (July-September) of fiscal year 2023. The crude steel production volume (equivalent to shipping volume) is expected to be 22.31 million tons, seeing a 2.2% increase from the same period of the previous year. This will mark the first time in 7 quarters since the October-December quarter of 2021 that the quarterly production volume will see an increase from the same period of the preceding year. For this fiscal year there is expected to be steady demand for steel products, especially for those for use in the manufacturing industry due to such factors as automotive product demand to slowly recover after being negatively affected by disruptions in supply chains, including semiconductor shortages.