Ministry of Economy, Trade & Industry (METI) announced on Tuesday the Ministry carried out a survey on Japan Earthquake’s impact on Japanese industries and supply chains. METI evaluated Japanese steel industry could minimize negative effects on steel users’ production by quick recovery of damaged steel plants and speedy decision of alternate supply.
METI appreciated Japanese integrated steel makers are contributing to restoration of disaster areas by supplying steel products for temporary houses and other reconstructions while the steel industries are helping electric power supply by joint thermal power plants and IPP (Independent Power Production). The Ministry analyzed steel users’ operations weren’t impacted by Sumitomo Metal Industries’ Kashima steel works output suspention since steel users held a certain amount of material inventories and Kashima steel works returned to operation in a short term. In North Japan, Nippon Steel’s Kamaishi works restarted the rolling mill on April 13. JFE Bars & Shapes’ Sendai plant offered alternate supply by JFE Steel and other special steel makers. Other electric furnace steel makers that were damaged by the earthquake are also covering output by their group plants. Mr. Masaki Koito, director of METI’s iron and steel division, summarized Japanese steel industry recovered the supply chain very speedeily, including alternate supply by other plants or makers, and minimized negative impact on steel users’ operations. Steel product supply to disaster areas was also smooth. In a short term, Japanese steel consumers such as car industry would raise operations gradually while steel demand in disaster areas would increase after a first supplementary budget bill passes the Diet in early May. Mr. Koito suggested steel makers and dealers should cautiously watch actual demand condition and realize stable material supply.Japan Steel Scrap Composite Prices (Sangyo Press)
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