Boston, MA -- (ReleaseWire) -- 03/14/2014 -- Japan's metal industry is set for slight growth over the coming years, driven by continued reconstruction efforts from the earthquake over three years ago. In addition, the government is pursuing stimulus measures which should give a boost to construction industries. However, given our bearish view on steel prices, as well as the relatively high costs of production in Japan, there will only be modest growth as the economy nears saturation levels.
Over the long term we expect production and consumption trends to fall back to low single figures, in line with growth forecasts for the Japanese economy as a whole. Japan remains one of the largest producers and consumers of these metals, but faces a declining share of world output and demand, as China and up-andcoming India rapidly increase production and consumption in most metals.
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Although steel prices have dipped since the start of 2012, we expect to see a slight rebound in 2014. We expect steel production to rebound on the back of increased demand as construction efforts get underway, but it will be short-lived, with production growth experiencing a steady decline from 2014-2016.
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