Japan steel demand will fail to reach pre-pandemic levels in 2022, MEIS hears

Steel use in Japan is forecast to rise in 2022 but will fall short of consumption volumes recorded before 2020, Kazuo Mike Fujisawa, principal of global business development at Japanese steelmaker JFE Steel's Overseas Business Planning Department, said this week.

Apparent steel use in Japan is forecast by the Japan Iron and Steel Federation (JISF) to reach 59.2 million tonnes in 2022, up by 2.1% from a forecast of 58.0 million tonnes in 2021 and from 52.6 million in 2020. But these levels still fall short of 2019’s steel use of 63.2 million tonnes.

In a presentation to Fastmarkets’ Middle East Iron and Steel (MEIS) conference in Dubai on Tuesday December 7, Fujisawa said that following this tepid recovery from the damage done in 2020, Japan’s steel sector will encounter more...

Published

Lee Allen

December 08, 2021

23:10 GMT

Dubai