Japan’s crude steel output is expected to come in around 35 million tonnes for the April-September period and below 80 million tonnes for the current financial year to end-March. Japan Iron and Steel Federation chairman & president of Nippon Steel Mr Eiji Hashimoto told a news conference “It’s my personal view, but I still expect Japan’s crude steel output is likely to fall below 80 million tonnes for the current financial year. Each steelmaker first needs to do whatever it can do on its own to improve management through measures including cutting down surplus production capacity.”
He also warned that the relative superiority of Chinese steel mills will increase after the pandemic as they are boosting output and improving technology. He said “Our biggest threat is China.”
Japan’s crude steel output for the year to March 2020 was 98.43 million tonnes, down 4.3% from a year earlier.
Source: STEELGURU
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