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TOKYO (Scrap Monster): Japan cold rolled steel and strip production declined by 9% to 6.88 million metric ton in 2011 and dropped by 2% to 475,258 metric ton in December, said the Japan Iron and Steel Federation (JISF) in a research note.

According to JISF, Japan cold rolled steel and strip shipments declined sharply by 9% to 6.89 million metric ton in 2011 as compared to 2010. In 2011, 49% of shipment were made to the domestic market and 51% were made to the global market.

JISF also said that Japan cold rolled sheet and strip shipment increased 1% to 525,351 metric ton in December as compared to November and declined 15% year-on-year.

In December, 54% of shipment were made to the domestic market and 46% were made to the global market. Japan CR sheet and strip inventories dropped by 7% to 660,571 metric ton month-on-month in December and down 1% year-on-year. The average domestic price for CR sheet and strip was $1,122/mt, remaining unchanged both from the previous month and year-on-year.