In January this year, Japan's industrial production increased by 3.7 percent from the previous month, showing an increase for the first time in three months, while output decreased by 3.8 percent from January last year, according to the preliminary indices of the Industrial Production report published by Japan's Ministry of Economy, Trade and Industry (METI).
On the other hand, in January the Japanese iron and steel production index fell by five percent year on year, while Japan's seasonally adjusted iron and steel production index increased by 1.7 percent in January compared to December. Meanwhile, in January Japanese producers' iron and steel shipments decreased by 0.4 percent and iron and steel inventories were up by 3.2 percent, both compared to the previous month.
On the other hand, according to the ministry's preliminary Current Survey of Production report, in January this year Japan produced 6.8 million mt of pig iron, down 1.9 percent, 8.77 million mt of crude steel, decreasing by 2.7 percent, and 8.56 million mt of semi-finished steel, down 2.8 percent, all compared to January 2015.
According to the ministry's Survey of Production Forecast in Manufacturing, Japanese industrial production is expected to decrease by 5.2 percent in February and to increase by 3.1 percent in March this year, both month on month. Meanwhile, Japanese iron and steel production is expected to rise 0.1 percent in February and to decrease by 5.5 percent in March this year, month on month.