In December last year, domestic steel product consumption in Japan amounted to 3.92 million metric tons, down by 2.3 percent compared to November and up by 5.6 percent year on year, according to the data released by the Japan Iron and Steel Association (JISF). Meanwhile, in 2023, domestic steel consumption in the country decreased by 2.6 percent year on year to 45.3 million metric tons.
In 2023, steel product consumption in the construction sector in Japan moved down by 9.2 percent to 8.8 million metric tons, while steel product consumption in the Japanese automotive sector amounted to 11.6 million metric tons, up 8.9 percent, both on year-on-year basis. In the given year, Japan’s shipbuilding industry consumed 2.85 million metric tons of steel products, up 0.6 percent year on year.