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According to the preliminary index of industrial production released by the Japanese Ministry of Economy, Trade S500M Grade L steel and Industry (METI), Japan's industrial output decreased by 3.3% month on month and 4.9% year-on-year in August this year.
On the other hand, Japan's steel production index in August decreased by 7.7% year-on-year, while the seasonally adjusted steel S500M Grade L steel production index decreased by 4.4% compared to July. Meanwhile, Japan's steel shipments in August decreased by 10.2% month on month, while steel inventories increased by 2.8%.
According to the Ministry's S500M Grade L steel manufacturing production forecast survey, it is expected that Japan's industrial output will increase by 2.0% month on month in September and 6.1% in October. Meanwhile, it is expected that Japan's steel production will decrease by 0.2% month on month in September and increase by 3.1% in October.