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Crude steel and pig iron production rose in Japan

Japan's crude steel production increased by 7.1 percent compared to September to 7.52 million tons. Pig iron production in Japan also showed a positive performance in the same period. In October, it was 5.40 million tons, up 6.3 percent month-on-month and 3.8 percent year-on-year.

Crude steel and pig iron production rose in Japan

According to data from the Japan Ferrous Metallurgical Federation, crude steel production in Japan in October was recorded at 7.52 million tons, up 7.1 percent compared to September. There was also a 2.6 percent increase compared to October 2022. These data show that the steel industry in the country has entered a steady recovery process.

In the same period, pig iron production in Japan also showed a positive performance. In October, it was 5.40 million tons, up 6.3 percent month-on-month and 3.8 percent year-on-year. This shows that iron production has been on a steady upward trend.

However, this rise does not fully compensate for the decline since the beginning of the year. In the January-October period, crude steel production in the country was 72.92 million tons, down 3.0 percent year-on-year. Pig iron production fell 1.9 percent to 52.94 million tons. Among the reasons for these declines is thought to be the impact of a global demand drop.

The recovery in Japan's steel industry should be seen as a positive sign, with the country's economic output strengthening and demand in the construction sector increasing. This may contribute to an increase in the country's competitiveness both in the domestic market and in exports. However, the impact of global economic uncertainties and demand fluctuations on the industry in the coming period should be kept in mind.

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