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Japanese August raw steel output up by 8.5pct MoM

Japan Iron & Steel Federation said that Japanese raw steel output increased by 8.5% MoM to 8.311 million tonnes in August from July, 4 months in a row.

The production reached 8 million tonnes for the first time since November 2008 when domestic integrated steel makers increase the output to meet higher demand for domestic automakers and manufacturers and export. The production was 18.3% YoY lower than a year earlier, which was decreased for 11 months in a row.

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