Japan's crude steel production is expected to fall 4.2% in April-June from a year earlier amid slow car production due to a shortage of chips and components, the Ministry of Economy, Trade and Industry (METI) said on Tuesday.
This will mark the second quarterly decline in a row.
METI estimates crude steel production for the three-month period was 23.33 million tonnes, up from 24.35 million tonnes a year earlier, as disruptions to parts supplies continue to weigh on Japanese automakers' global output.
But it will increase by 1.1% compared to 23.08 million tons in the January-March quarter.
Demand for metal products, including for export, is projected to decline by 0.5% to 20.98 million tons in April-June compared to a year earlier, the ministry said, citing an industry survey.
Exports of the world's third-largest steel producer are forecast to fall 0.4% to 6.9 million tonnes.
“There is a risk of a further drop in demand due to restrictions on the supply of semiconductors and other components, as well as the impact of the conflict between Russia and Ukraine,” the ministry said in a statement.
Raw steel production in Japan for April-June will decrease by 4.2% y /y - METI
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Azovpromstal® 19 April 2022 г. 10:03 |
