Japan's crude steel output falls again in October

Weak demand at home and facing tougher conditions for exports internationally, Japan's steelmakers produced just 6.92 million tonnes of crude steel in October, data released Thursday by the Japan Iron & Steel Federation (JISF) show, representing a 7.8% drop from October last year and making for the eighth consecutive on-year decline.

Although the total was higher by 4.6% from September, the on-month rise could have been expected because August-September are usually the months when electric arc furnace (EAF) steelmakers halt operations and conduct maintenance to avoid paying the high summer surcharge for their electricity. It is the on-year slide that is