Japan’s steel consumption down for ninth straight month in May

Japan’s apparent steel consumption dropped 11.8% year-on-year in May amid a drop in the country’s imports and crude steel output, according to figures released by the Japan Iron & Steel Federation (JISF).

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Consumption, on a crude steel basis, fell to 5.70 million tonnes from 6.46 million tonnes in May 2014, it disclosed on Monday July 13.

This is the ninth consecutive month of drops since September, when consumption fell for the first time after twelve months of increases.

JISF calculates consumption by adding Japan’s production to its import figures and subtracting exports, all on a crude steel basis.