Steel production in Japan will reach a 6 -year -old maximum

The production of steel in Japan is expected to grow to a six -year maximum in the current financial year, which end in March 2014. To a greater extent, this is due to high demand from the infrastructure, which works in the conditions of high government spending and haste, caused by the intention to complete the house before the introduction of sales tax next year.

The Ministry of Economics, Trade and Industry of Japan stated that the production of raw steel in Japan for the period of the current year is predicted with an increase of 4.3 percent compared to a year earlier and will reach more than 111.88 million tons. This can become the highest level of steel production in Japan since the 2007th financial year, when it has reached a record 121.51 million tons.

Ryuichi Yamasita, the head of the metallurgical unit of the ministry, at a press conference, referred to the policy of Prime Minister Sinzo Abe to activate the Japanese economy and said that "a great contribution to increase the production of steel this year rendered an increase in construction and infrastructure work on the Abenomix strategy, the name of which comes from the name of the current Japanese minister."

Infrastructure expenses are the main agenda of Shinzo Abe day, while pushing the Central Bank to take decisive measures in order to put an end to deflation. The production of steel products used for the construction of infrastructure facilities received support due to its incentive program, which included additional costs of more than 47.95 billion US dollars for public work.

Nevertheless, the 2013 financial year has become exports, as expected, it will decrease compared to a year earlier, despite the weaker yen.