Japan crude steel output falls for 5th straight month in July
Post Date: 22 Aug 2011 Viewed: 574
TOKYO (Kyodo) -- Crude steel production in July dropped 1.2 percent from a year earlier to 9.11 million tons, the fifth straight month of decline, as output by auto and consumer electronics makers had yet to recover to levels prior to the March earthquake and tsunami, an industry body said Friday.
The fall was also attributable to the yen's appreciation which hurt exports, the Japan Iron and Steel Federation said. The rate of decline, however, shrank from the previous month, it added.
While automotive production is recovering, it will take more time until it pushes steel output above year-earlier levels, an industry observer said.
By product category, the output of specialty steel, much of which is used in automobiles, slumped 5.6 percent to 2.01 million tons, the fifth straight monthly decline. But production of ordinary steel edged up 0.1 percent to 7.1 million tons, the first increase in five months.