According to the forecast released by the Ministry of Economy, Trade and Industry, Japan's crude steel output in the third quarter of this year will reach 26.54 million tons, an increase of 2.3%.

The Ministry of Economy, Trade and Industry said in a statement that Japan's steel demand in the third quarter is expected to be 23.75 million tons, up 0.7% year-on-year; previously demand for steel in the second quarter of Japan is forecast to increase by 2.8%. Among them, the construction industry's demand for ordinary carbon steel in the third quarter is expected to remain stable year-on-year, up 6.8% from the previous month to 5.44 million tons. In the third quarter of the manufacturing industry, the demand for ordinary carbon steel was 7.04 million tons, a year-on-year increase of 1.5% and a quarter-on-quarter increase of 0.8%.

The Ministry of Economy, Trade and Industry also said that demand for steel in recent projects in Japan has continued to be stable, such as urban development and demand for projects related to the 2020 Tokyo Olympics. The demand for steel in the Japanese real estate industry continues to decline.

In the manufacturing sector, the demand for steel in the shipbuilding industry may remain low in the third quarter, while the demand for steel in the machinery industry will remain firm, and the demand for steel in the automotive industry will increase periodically.

The Ministry of Economy, Trade and Industry predicts that Japan's steel exports in the third quarter will increase by 2.7% year-on-year and 1.1% quarter-on-quarter to 7.85 million tons. Although Japan’s exports are expected to increase, due to trade measures adopted by other countries, such as the United States impose tariffs on imported products, future global market volatility still needs to be carefully monitored.