Record low output looms for Japanese steelmakers

Statistics released by the Japan Iron & Steel Federation (JISF) last Friday suggest that the Japanese steel industry remains headed for record low steel production this calendar year, despite an on-month pickup last month.

The preliminary JISF data showed that crude steel production in October totaled 6.85 million tonnes, up by 7.5% from September but down by 1% from October last year and making for the seventh consecutive monthly on-year fall. Daily crude steel output last month averaged 221,000 tonnes, higher by 4%