steel shipments rebounded strongly in November as export
volumes surged, while producers reduced output.
Shipments totaled 6.62
million tonnes in November, up 7.7 percent from the prior month
and 10.8 percent higher than November 2012, the latest figures
from the Japan Iron and Steel Federation (JISF) show.
Exports also showed a
strong rebound after four months of declines, rising 11.9
percent month on month and 3.6 percent year on year to 2.23
million tonnes, JISF said. Exports had fallen to a two-year low
continued to make strong gains, rising for a third month in a
row to the highest level since March 2012. The 4.38 million
tonnes shipped rose 5.9 percent month on month and 14.8 percent
year on year.
expect demand to remain robust ahead of a rise in a consumption
tax in April.
believe the effect of the consumption tax increase will be
limited, as the global economy continues to recover.
Despite the rise in overall shipments, mills reduced crude
steel output by 2.7 percent month on month to 9.27 million
tonnes, following a rise in October to the highest level since
June. However, the total was still up by 9 percent from
A version of this
article was first published by AMM sister publication Steel