According to the Japan Iron and Steel Federation (JISF), Japan's steel production in 2022 was 89.23 million tonnes, down 7.4% from 2021, the first decline in two years. The decline was mainly due to a slowdown in the recovery of auto production and reduced demand for exports amid a sluggish global economy in 2022.
JISF said domestic steel demand in Japan was affected by a delayed recovery in auto production, and overseas demand has also been sluggish since then. second half of last year due to high inflation and higher interest rates in Europe and the US.
In addition, Japan's annual crude steel production is unlikely to rise to 100 million tonnes even if demand picks up as Japanese steelmakers reduce the number of blast furnaces.
Steel production in Japan declined in 2022
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