Crude steel production fell 5.4 percent in August from a year earlier to 8.6 million tons, marking the fifth straight month of decline, the Japan Iron and Steel Federation said Tuesday.
Output of ordinary steel dropped 6.2 percent in the month from a year earlier to 7.1 million tons for the seventh consecutive month of decline. Specialty steel output dipped 1.5 percent to 1.5 million tons, marking the first year-on-year decline in the past 26 months.
The federation attributed the overall decline mainly to a longer than usual summer break by electric furnace makers. Steelmakers have reduced production to raise prices. "The output is still high amid sluggish domestic and global demand. The market will barely recover unless blast furnace makers cut production further," a federation official said.