According to statistics released by the Japan Iron & Steel Federation (JISF), the output of crude steel will be 55.6 million tons in the first half of this fiscal year and 110 million tons in the fiscal year.

JISF said the output of automotive will keep rebounding in the domestic market and global market in the second half of 2014. So far, the effect of Japan’s consumption tax has gradually reduced on economic aspect.

For the iron ore price, JISF expects that it would keep going down to US$85/ton in October and December. Also, the spot price of iron ore will be around US$70/ton.