Japanese carbon steel import increased by 20.8% to 4.637 million tonnes in fiscal 2011 ended March 2012 from fiscal 2010, which increased for 2 years in a row, according to Ministry of Finance. The import increased to around 2 times for plate, around 4.4 times for sheet pile and 1.7 times for electrical steel under high yen rate. The buyers also sought new source after the major earthquake and Thai flood and when Nippon Steel and Sumitomo Metal Industries will merge. The import expanded from traditional distributors to manufacturers under the changing business condition.
The import from South Korea increased by 25.2% to 3.042 million tonnes in fiscal 2011 from fiscal 2010. South Korean makers increased the export under higher yen rate. The import increased by 16.7% to 849,003 tonnes from Taiwan and by 12.2% to 674,010 tonnes. The carbon steel import increased by 12.5% to 383,731 tonnes in March from February, which increased for the first time in 6 months.