Tokyo: Japan’s 2010 steel output rises by 25 percent to nearly 110 million tones in 2010, the biggest rise in 43 years, an industry body said on Thursday.
Crude steel output stayed at a high level in December buoyed by steady exports to Asia, although October-December output slightly fell short of the government’s forecast due mainly to blast furnace trouble at Sumitomo Metal Industries Ltd and flagging car sales in Japan following an end to government subsidies.
“A solid recovery in output is continuing thanks to strong exports,” a spokesman at the Japan Iron and Steel Federation said.
Crude steel output in December totalled 9.17 million tonnes, up 2.5 percent from a year earlier for a 14th consecutive year-to-year rise, the industry body said.
From the previous month, December output rose 2.1 percent due in part to an extra day compared with November, the industry body said. The figure is not seasonally adjusted.
October-December output came to 27.67 million tonnes, falling short of the trade ministry’s forecast by 114,000 tonnes.
Japan’s trade ministry warned last month that the level of domestic inventories was too high, and forecast that output in the January-March quarter will likely shrink to 26.88 million tonnes because companies are keen to cut inventories.
Domestic steel inventories in November decreased 233,000 tonnes to 4.996 million tonnes, falling below 5 million tonnes for the first time in four months, the Iron and Steel Federation said last month.
Dear TNT Reader,
At The News Tribe, our mission is to bring you free, independent, and unbiased news and content that keeps you informed and empowered. We are committed to upholding the highest standards of journalism, as we understand that we are a platform for truth.
Apart from independent global news coverage, we also commit our unique focus on the Muslim world. In an age marked by the troubling rise of Islamophobia and widespread misrepresentation of Muslims in Western media, we strive to provide accurate and fair coverage.
But to continue doing so, we need your support. Even a small donation of 1$ can make a big difference. Your contribution will help us maintain the quality of our news and counteract the negative narratives that are so prevalent.
Please consider donating today to ensure we can keep delivering the news that matters. Together, we can make a positive impact on the world, and work towards a more inclusive, informed global society.
Donate Monthly Subscription Annual Subscription