The production volume of "crude steel", which is the basis of steel products, for the past year was the lowest in 51 years, down 16% from the previous year due to the drop in production for automobiles due to the influence of the new coronavirus. It became a standard.
According to the Japan Iron and Steel Federation, which is made by steel makers, crude steel production for the last year was 83.19 million tons, 16% less than the previous year, the sixth consecutive year of decline.
This is below the 2009 production volume immediately after the Lehman shock, the lowest level in 51 years since 1969.
In addition to the decline in steel production for the mainstay automobiles due to the impact of the new coronavirus, the main reason for this was the sluggish performance of construction products such as hotels and buildings.
Domestic crude steel production is picking up at the moment, partly because automobile production is recovering, and major steel makers are restarting blast furnaces that had been suspended.
Regarding the future outlook, the Japan Iron and Steel Federation states that "it is necessary to pay close attention to the effects of the re-expansion of infection and the government's declaration of emergency."