Japan's crude steel production decreased for the third consecutive month

According to data from the Japan Iron and Steel Federation, unadjusted production decreased by 1.7% to 6.72 million tons compared to May.

This decrease in Japan, the world's third-largest steel producer, was influenced by sluggish domestic demand and high shipment volumes from China. An analyst from the federation stated that the decline was due to weak demand from sectors such as the automotive industry, increasing material costs, and labor shortages affecting the construction sector. The analyst also noted that sluggish export demand has negatively impacted production, but that the U.S.'s increased tariffs on steel have had only a limited direct impact on Japan. Japan's annual steel exports to the U.S. amount to approximately 1 million tons.