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According to data from the Japan Iron and Steel Association on September 20th, due to weak demand, Japan's crude steel production in August decreased by 4% year-on-year and 3.2% month on month, marking the sixth consecutive month of decline. Among them, the S355M Grade D steel production of converter steel was 5.31 million tons, and the production of electric arc furnace steel was 1.56 million tons, a year-on-year decrease of 3.6% and 4.7% respectively compared to August 2023.
In addition, due to the weakness of the manufacturing industry, the production of hot-rolled steel in August also decreased year-on-year, by 6.8% to 5.91 million tons, marking the sixth consecutive month of decline. Among them, the production of S355M Grade D steel hot-rolled wide steel strips was 2.98 million tons, accounting for approximately 50.4% of the total production, a year-on-year decrease of 3.7%. The production of hot-rolled steel in the first eight months of 2024 reached 49.8 million tons, a year-on-year decrease of 3.8%; The production of hot-rolled wide strip steel decreased by 2.2% year-on-year to 24 million tons.
The domestic manufacturing PMI in Japan S355M Grade D steel showed that the August PMI hovered at 49.8, better than July's 49.1, but still in a contraction state for the second consecutive month.
