Posted on 14 Oct 2008
Orders for ordinary steel products in
The decline reflects weak demand for building materials due to slumping housing construction as well as a fall in exports orders, which fell for the first time in 15 months, the Japan Iron and Steel Federation said.
Although steel production has enjoyed brisk demand for a while, it seems that the industry has started to feel the impact of the slowing global economy, industry watchers said.
By product category, total orders for steel products used in construction and civil engineering fell 7.9 pct, while automobile materials orders slid 3.4 pct, the first drop in five months. Exports declined 2.9 pct.
