Steel production in Japan rose 0.9 percent in August from the previous year to 8.81 million tonnes, an industry body said Friday, which said it would resume production at factories located in areas where in July heavy rains were observed.
Steel prices have surged on solid product growth from automakers and machine builders, while construction is well under way for the Tokyo 2020 Olympic Games in Tokyo and a number of renovation projects in downtown Tokyo.
Landslides hit western Japan in July, killing more than 200 people in the country's worst weather disaster in 36 years.
"Operations at some steel mills in western Japan returned to normal after heavy rains in July," said a researcher at the Japan Metallurgical Federation.
"In addition, domestic demand for steel for automobiles, industrial equipment and construction remained strong." The monthly gain comes after steel production declined in July.
The August issue, which is not seasonally adjusted, is up 4.6 percent from July.
Japanese steelmakers have used the improved market conditions for several years, although they still have not been able to get rid of fears of an American war in the United States.
Japanese steel production rises in August
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Azovpromstal® 25 September 2018 г. 09:29 |
