China’s boycott to curb Japan steel output 550,000T

Dec 04, 2012 | 10:54 AM |

Tags  Japanese steelmakers, Chinese boycott, steel output, automakers, Toyota, Missan, Honda, Suzuki

TOKYO — Japan’s territorial spat with China is expected to cost Japanese steelmakers around 550,000 tonnes in lost production in the current quarter, according to Japan’s Ministry of Economy, Trade and Industry.

Quarterly steel output is on track to fall below the 23-million-tonne mark vs. the ministry’s previous estimate of about 23.5 million tonnes due to a widespread boycott of Japanese goods by Chinese consumers.

October crude steel production of 8.84 million tonnes was down 6.7 percent from the same month last year, the biggest year-on-year fall in nine months, due largely to a decline in domestic auto production and an increase in imports of construction steel, according to the Japan Iron and Steel Federation.....

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