Markets

Japan crude steel output rises for a third straight month in January

Published February 20, 2018 Updated February 20, 2018 01:39pm

Output, which is not seasonally-adjusted, increased 3.5 percent from December.

"Steel production is on the recovery after suffering from glitches at some steel plants," said a researcher at the Federation, who asked to remain unidentified.

"Steel demand at home from automakers and other manufacturers as well as construction customers remains strong," he said.

Japanese steelmakers are enjoying the best market conditions in at least three years. Steel prices have risen on increased production by automakers, while construction is in full swing for Tokyo's 2020 Olympics and a series of redevelopment projects in the Tokyo metropolitan area.

Copyright Reuters, 2018