On the other hand, in March, Japan's iron and steel production index increased by 1.2 percent year-on-year, while Japan's seasonally adjusted iron and steel production index increased by 1.2 percent year-on-year. The production index decreased by 0.7 percent in this month compared to February. Meanwhile, in March, shipments of iron and steel by Japanese manufacturers increased by 0.4 percent, while iron and steel stocks decreased by 0.5 percent compared to the previous month.
Japan's industrial production is expected to grow by 2.1 percent in April and 2.2 percent in May, both on a monthly basis, according to a study by the Ministry of Manufacturing Forecasting. Meanwhile, Japan's iron and steel production is expected to decline by one percent in April and increase by 2.9 percent in May compared with the previous month.
