Crude steel production in Japan 2013-2022

In 2022, Japan produced approximately 89.23 million tons of crude steel, which made it one of the leading producers of steel in the world. Because of its favorable material properties, steel is commonly used in major industries, such as the construction and the manufacturing industries. Recently, the producer price index of iron and steel skyrocketed, showing long-lasting effects of the recent COVID-19 pandemic-induced market environment.

Imports and exports

The production of steel necessitates large quantities of energy, as well as raw materials. Core ingredients for steel production include iron ore and coking coal. Japan has neither of those in abundance and has to rely on imports to solve the large demand. Most of the coking coal is shipped in from Australia, while the leading provider of iron ore is also Australia, followed by Brazil. The steel produced covers more than just the domestic demand. Millions of metric tons of iron and steel products are exported annually, with a combined worth of several trillion Japanese yen. Ordinary steel products comprise the most common product type slated for export.

Leading companies

Steel production in Japan is a gigantic industry that is dominated by a few players, the three largest of which are Nippon Steel, JFE Holdings, and Kobe Steel. These three companies employ, when counted together, hundreds of thousands of people, with Nippon Steel alone accounting for more than 100,000 workplaces. Despite a changing and challenging business environment, the largest steel producing companies still managed to increase overall revenue in recent years.