Crude Steel Output Rises 2.7% On Year In Jan

TOKYO (NQN)--Japan's crude steel production grew 2.7% on the year to 8.865 million tons in January, increasing for the second straight month, the Japan Iron and Steel Federation said Wednesday.

Growth was led by increased production of automotive-use steel products, such as galvanized steel sheet and cold-rolled wide steel sheet.

Production by shaft furnaces, the main source of steel used in cars and electronic appliances, expanded for the third straight month, rising 6.4% on the year to 7.058 million tons.

Meanwhile, output of electric furnace steel, used mainly in construction, fell 9.4% to 1.807 million tons, marking the sixth straight month of decline. Production of specialty steel ingot used in cars and industrial machinery dropped for the sixth straight month, denting the overall production.

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