Japan Steel Frame Demand Shrinks to 6 Million Tonnes in F2008

Japanese steel frame demand is expected to total 6 million tonnes through fiscal 2008 ending March 2009 when general contractors are minimizing the procurement and the actual demand is decreasing. The annual demand is likely to become as low as 5.93 million tonnes in fiscal 1975.

Japanese integrated steel makers initially prospected the demand recovers to 6.8-7 million tonnes in fiscal 2008 from 6.4 million tonnes in fiscal 2007. However, the demand from building constructions dropped significantly due to economy downturn and conservative buying of general contractors against the background of higher steel price. Japanese integrated steel makers supposed the demand from building constructions maintains weak and revised down the demand forecast.