Japan’s Jul-Sept crude steel demand to fall 28% on year
Jul 09, 2020 12:40
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Japan’s crude steel demand for the July-September quarter is expected to plunge by 27.9% year on year and down 3.2% on quarter to 17.7 million tonnes, according to the forecast released by Japan’s Ministry of Economy, Trade and Industry (METI) on July 8, indicating the domestic steel mills will have to maintain low production.
if materialized, will
be the first quarter
in 11 years for Japan’s crude steel
production to be below
18 million tonnes, or just slightly higher than the 17.6 million tonnes
for January-March 2009 which the 2008-2009 finance crisis struck the world, Mysteel Global notes.
METI officials in charge
of the forecast could not be reached for