Japan Plate Import to Increase in 2012

Japanese steel plate import is estimated to double to around 480,000 tonnes in 2011 from 2010. Japanese shipbuilders increase the import under historical high yen rate. The total Japanese import is 50,000-60,000 tonnes per month in recent month, which represents annualized 600,000-700,000 tonnes. With the pace, the import would increase more in 2012.

The plate import was 419,041 tonnes in January-November compared with 233,338 tonnes in full year of 2010, according to Ministry of Finance. South Korean steel makers increase the export for Japan. The Japanese import from South Korea increased to 2.7 times at 325,000 tonnes in January-November from same period of 2010. South Korean steel makers apparently increase the export more for Japan for 2012.

South Korean Steel makers increased plate production capacity in recent years. The capacity increased by 4-5 million tonnes per year in South Korea. The much higher capacity for the domestic demand encourages South Korean makers to increase the export. Chinese steel makers also increase the production capacity. Japanese plate import is expected to increase to 600,000-700,000 tonnes for 2012 based on the current yen rate.