In March this year, Japan's industrial production increased by 0.3 percent from February and rose by seven percent from March 2013, according to the preliminary indices of the Industrial Production report published by Japan's Ministry of Economy, Trade and Industry (METI).

In March of the current year, Japanese iron and steel production increased by three percent year on year, while Japan's seasonally adjusted iron and steel production increased by 1.3 percent month on month. Meanwhile, in the given month Japanese producers' iron and steel shipments decreased by two percent and iron and steel inventories were up by 3.5 percent, both compared to February.

On the other hand, according to the ministry's preliminary Current Survey of Production report, in March this year Japan produced 7.07 million mt of pig iron, down 1.4 percent, 9.72 million mt of crude steel, up 2.8 percent, and 9.48 million mt of semi-finished steel, up 2.6 percent, all compared to March 2013.

According to the ministry's Survey of Production Forecast in Manufacturing, Japanese industrial production is expected to decrease by 1.4 percent in April and increase by 0.1 percent in May, both month on month. Meanwhile, Japanese iron and steel production is expected to decrease by 0.6 percent in April and by 1.1 percent in May, both month on