Crude steel production in Japan surged 32.5% in July from a year earlier, rising for the fifth straight month as industry demand continued to recover from the coronavirus-driven downturn, the Japanese Iron and Steel Federation said Monday.
Steel output from the world's third-largest unseasonably adjusted steel producer rose to 8.01 million tonnes from a year earlier, but fell 1.3% from June.
The strong growth came on the July forecast of the Ministry of Economy, Trade and Industry (METI) that steel production in the country in July-September will grow by 30.1% compared to last year.
Japanese steelmakers are also on track for V-shaped annual profit growth as strong global demand drives up prices, while higher prices for iron ore and coking coal are driving up the value of inventories.
Japanese steel production jumped 32.5% in July
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Azovpromstal® 24 August 2021 г. 11:08 |
