Japan’s manufacturing sector slowed in July, as the au Jibun Bank Japan purchasing managers’ index compiled by S&P Global Commodity Insights dipped to 52.1 from 52.7 in June, the data showed Aug. 1. Although the PMI remained in expansion territory, the reading was the lowest in 10 months, as domestic production and new orders showed declines at the start of the third quarter, which local companies attributed to “rising inflationary pressures and raw material shortages.” Shortage of parts have resulted in local automakers cutting their production forecasts in Q3. Toyota Motor Corp.’s reduced its production outlook by about 58,000 vehicles for July and by about 150,000 vehicles in August. The outlook for Q3 steel demand looks bearish as Japan’s Ministry of Economy, Trade and Industry projected July 14 that the third-quarter steel products demand is expected to slip 1.8% on the year to 20.96 million mt amid market uncertainty […]