Production has become in Japan to continue to decline

In the first quarter of 2013, steel production in Japan fell, according to preliminary data by 4.1%, Bloomberg reports. This has become the biggest decline in the industry over the past year and a half.

The Ministry of Economics, Trade and Industry stated that the production of steel in Japan would probably decrease to 26 million 380 thousand tons in the first quarter compared to 27 million 500 thousand tons in the first three months of last year.

Japanese officials predict a further decrease in the production of steel in the country by at least 1% in the next quarter, explaining this by echoes of the destructive earthquake and the tsunami that followed him in March 2011. The increase in exports associated with the weakening of the yen could not overcome the drop in demand from the domestic market - from shipbuilders, automakers and other metal -combat sectors of the economy.

In the past quarter alone, Japan shipbuilding companies reduced the purchases of the metal rolling by 24.2%, and car manufacturers by 9.5% (in annual calculus).

Meanwhile, according to the forecasts of market analysts, the consumption of steel for the construction sector will soon grow by 6% and amount to about five million tons.