Crude steel output sees sharpest-ever fall of 13.2% in FY 2008

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TOKYO, April 20 Kyodo -
Crude steel output in Japan declined 13.2 percent in fiscal 2008 from the year
before to 105.50 million tons partly due to a plunge in demand from automakers,
marking the sharpest percentage fall on record, an industry body said Monday.
The output sank below year-before levels for the first time in three years
against the backdrop of global economic deceleration, the Japan Iron and Steel
Federation said.
The output was the lowest level since fiscal 2001 when it totaled 102.06
million tons.
Although crude steel production set an all-time high in fiscal 2007 on strong
demand from emerging economies, the economic downturn in fiscal 2008 put a
brake on output, the federation said.
An official of the federation said, ''Low-level output is expected to continue
from April through June and prospects after that are uncertain.''
The output of specialty steel for use in automobiles and similar products sank
15.8 percent to 22.22 million tons, while that of ordinary steel for use in a
wide variety of industrial products dropped 12.4 percent to 83.28 million tons.
In March alone, crude steel output plunged 46.7 percent to 5.74 million tons
for the sixth straight monthly fall and the steepest-ever percentage fall for
any month, it added.
==Kyodo