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Japan’s FY20 carbon steel sales tumble to 50-year low

ABSTRACT

Japan’s sales of finished carbon steel items during fiscal 2020 (ending March 2021), fell by 9% on year to 56.8 million tonnes, according to the latest data released by the Japan Iron & Steel Federation on May 17, the lowest that ordinary steel sales have plunged since the 55.96 million tonnes total in fiscal 1970 when the Japanese economy was haemorrhaging from the first Oil Shock. “It’s clear to see the negative impact of the COVID-19 outbreak,” a JISF official commented Tuesday.
Last fiscal’s fall in sales was also the fourth consecutive on-year decline, Mysteel Global notes. The total was also far below the volume in fiscal 2008 of 66.25 million tonnes when the global financial crisis had cooled steel demand. Carbon steel sales to manufacturers started improving in the second half of last fiscal (October 2020-March

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