Japan's crude steel output fell 3.1 per cent in April from a year earlier, sliding for a 16th straight month, as slow local demand and slumping overseas prices forced steelmakers to reduce output, the Japan Iron and Steel Federation said on Tuesday.
Production in the world's third-biggest steelmaking country has been on a downtrend since last year as a global chip shortage and COVID-19 lockdowns in China have repeatedly delayed a recovery in output by Japanese automakers.
Crude steel output, which is not seasonally-adjusted, dropped to 7.24 million tonnes for April, marking the longest consecutive monthly fall since 2014-2016 when consumption of cars and houses slumped after a sales tax hike, an analyst at the federation said.
Output decreased 3.3 per cent from March.
Production of LME deliverable KAS-branded aluminium at Kazakhstan’s Eurasian Resources Group has reached the four-million-tonnes milestone
