Japan's novel coronavirus pneumonia has been cracking down on demand from manufacturers such as carmakers, and Japan's crude steel output is expected to drop to a 11 year low in 7-9 this year, the Ministry of industry and economic cooperation said recently.
According to the Ministry of economy, industry and industry, Japan's crude steel production will reach 17.7 million tons from July to September this year, down 27.9% from 24.55 million tons in the same period of last year, and 3.2% lower than that in April June. The expected output hit a new low since January to March 2009, when crude steel production fell sharply during the global financial crisis.
Japan is the third largest steel producer in the world. From April to June this year, China's crude steel output was 18.29 million tons, down 30% from 26.12 million tons in the same period of last year, lower than the 19.36 million tons previously estimated by the Ministry of economy and industry.
Steelmakers have cut production in response to falling demand. Nippon Steel and JFE steel, Japan's two largest steel companies, have announced production cuts. By the end of July, a total of seven blast furnaces will be shut down, and crude steel production capacity is expected to decrease by 25-30%.