Japan's CRC production and shipments decline

According to Japan Iron and Steel Federation (JISF) data, Japan's CRC production in June fell 5.4% m-o-m and 6% y-o-y to around 361,000 tons.

In the same period, Japan's CRC shipments were around 345,000 tons, down 12% from May and 19% from the same month last year. Around 51% of these shipments were directed to the domestic market, while the rest were exported.

The decline in production and shipments points to a sluggish demand environment in the domestic market and abroad. The contraction in shipments points to difficulties in maintaining export levels due to volatile global demand.