Steel production in Japan has grown to the highest level over the past three years

The production of raw steel in Japan increased in May until the highest level from January 2011, supported by the export stimulation program known as "Abenomics". The growth of steel smelting amounted to 9 million 620 thousand tons, which is 4.3 percent more than in the APPG-2012. This is stated in the report of the Japanese Metallurgists of the Metallurgists.

The third in a row, the monthly growth of production indicators became possible due to the restoration of exports to machine-building plants of Southeast Asia, owned by Japanese manufacturers, the Federation said.

The yen, which has faded 16 percent to the dollar, in combination with the softening of credit-money and fiscal policy, has become one of the most tangible consequences of the Prime Minister Shinzo Abe after two decades of economic stagnation.

The production of steel in Japan was restored to the level observed before the earthquake and the tsunami in March 2011, when many consumers of the metal distribution and, in particular, automakers were forced to stop their production.

April was awarded as the sixth month in a row of increase in steel exports from Japan, emphasized the metallurgists.