Japan's crude steel output is projected to decline for the fiscal year 2024, according to a forecast from the Ministry of Economy, Trade and Industry (METI). The total production for the fiscal year, ending in March 2025, is expected to reach 83.72 million tonnes, a decrease of approximately 4% from fiscal 2023 and marking the second lowest output since 1970. Domestic demand for ordinary steel is anticipated to rise slightly by 0.9% in the January-March quarter to 9.88 million tonnes; however, construction demand remains low due to labor shortages and rising material costs. The forecast indicates that this will be the third consecutive year of declining steel output in Japan.