Demand for Japanese Steel Products Seen to Drop in Jan.-March
Posted on: Tuesday, 27 December 2005, 18:00 CST
Tokyo, Dec. 27 (Jiji Press)--Demand for Japanese steel products in the January-March period is expected to drop 3.4 pct from a year before to 25.76 million tons, the Ministry of Economy, Trade and Industry said Tuesday.
The forecast takes into account a projected drop of 16.1 pct in exports, the ministry said.
Japanese steelmakers have been reining in exports in response to price declines caused by increased output by Chinese steelmakers.
Demand in Japan is expected to remain robust on the back of demand from automakers, and is projected to grow 0.9 pct for ordinary steel and 2.2 pct for special steel.
Output of crude steel by Japanese steelmakers is expected to decline 1.6 pct to 27.31 million tons in January to March.
For the year to March, both output and demand are expected to post the first year-on-year declines in four years.
Demand for Japanese steel products is projected to fall 2.2 pct to 102.58 million tons, and output of crude steel 0.6 pct to 112.23 million tons.END
Source: Jiji Press English News Service
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