TOKYO -- Japan's crude steel production fell 1.5% to 109.84 million tons in the year ended March 31, the first decline in three years, according to a report released Monday by the Japan Iron and Steel Federation.
Output of steel coil used to make automobiles and other products dipped 0.8%. Although production was strong in the first part of fiscal 2014 to fill orders placed before the April 1 consumption tax hike, demand slumped later on. Steelmakers say new orders have been sluggish since the start of 2015 as well because of high inventories of finished automobiles.
