According to forecast made by the Japan Iron and Steel Federation (JISF), Japan’s steel production is expected to rise further in the fiscal year 2013/14 (during April 1st through March 31st, 2014), driven by depreciated Japanese Yen and the Japanese government’s economic stimulus plan. Japan’s steel output totaled 107.3 million tons in fiscal year 2012/13, up by 0.8% year on year.
The exports totaled 43.42 million tons, rising by 9.6% year on year, according to statistics released by JISF. Japan’s domestic construction activity is expected to recover this year, boosted by the government’s economic stimulus plan. Also, the Japanese automotive industry is expected to have good performance in overseas market, driven by depreciated Japanese Yen. Affected by these factors, it’s forecasted that Japan’s steel products would rise this year.