- Analytics
- News and Tools
- Market News
- Japan May crude steel output soars 42% as industry demand picks up
Japan May crude steel output soars 42% as industry demand picks up
Reuters reports that Japan Iron and Steel Federation said that Japan's crude steel output rose 42.2% in May from a year earlier, climbing for a third consecutive month as industry demand picked up from a coronavirus-related slump.
Output, which is not seasonally adjusted, increased to 8.42 million tonnes in the world's No.3 steel producer, up 7.7% from April.
Steel output in May last year plunged 31.7% from a year earlier as the pandemic collapsed demand, forcing steelmakers to suspend some of their blast furnaces.
The 44% jump marks the biggest year-on-year increase since May 2010 when the local economy was recovering from the global financial crisis in 2009, a researcher at the federation said.
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
