Japan Steel Wire Rope Share Drops to 25.2% in 2008

Japanese import steel wire rope share decreased to 25.2% in the domestic market in 2008, according to Japan Steel Wire Rope Manufacturers Association. The share decreased for 3 years in a row due to higher shipment by domestic makers and lower import from South Korea. China was the largest supplier of the product for the first time in the history.

The domestic rope shipment increased by 4.2% to 82,001 tonnes in 2008 from 2007 while the import decreased by 5.1% to 27,568 tonnes, which decreased for the first time in 2 years. The total volume increased by 1.7% to 109,569 tonnes, which increased for 2 years in a row.

The import from China increased by 14% to 12,567 tonnes in 2008 from 2007, which was more than import from South Korea. The import from South Korea decreased by 21% to 9,667 tonnes.

The import rate in domestic market was more than 20% since 2003 and hit 28% in 2005. The import was more than 27% in 2006 and 2007 after the import secured certain portion in the market.