Japanese steel demand is unlikely to improve significantly in the short term

On July 25, the World Steel Association announced the report on global crude steel production in the first half of the year. Japan's crude steel output in the first half of the year was 46 million tons, a year-on-year decrease of 4.3%.

According to further information, due to the weak growth of domestic demand in Japan and the pressure of external demand, the actual demand and apparent consumption of steel in Japan in the first half of this year both decreased year-on-year, and the inventory level increased significantly.

It is expected that Japan's domestic steel demand will improve in the third quarter of this year, but the strength is still small, and the export demand will continue to show a downward trend in the short term due to the lower-than-expected international economic growth.