In March this year, Japan’s industrial production went up by 3.8 percent month on month and fell by 6.7 percent compared to the same month in 2023, 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 March the Japanese iron and steel production index decreased by 7.0 percent year on year, while Japan’s seasonally adjusted iron and steel production index went down by 2.4 percent in the given month compared to February. Meanwhile, in March Japanese producers’ iron and steel shipments moved up by 3.0 percent and iron and steel inventories increased by 0.4 percent, both compared to the previous month.
According to the ministry’s Survey of Production Forecast in Manufacturing, Japanese industrial production is expected to increase by 4.1 percent in April and by 4.4 percent in May, both on month-on-month basis. Meanwhile, Japanese iron and steel production is expected to increase by 1.8 percent in April and by 2.0 percent in May, month on month.