Mr. Eiji Hayashida, Japan Iron & Steel Federation’s chairperson and JFE Steel’s president, attended a regular press conference in Tokyo on Tuesday and expressed Japanese steel industry commits to assist restoration after Tohoku-Kanto Earthquake. The association formed a task force to support reconstructions in the areas hit by the earthquake. Meanwhile, the association requests smooth material supply and flexible law adoption such for distribution in order to restore damaged steel plants against Japanese government.
Mr. Hayashida explained the association offered the government to release appropriate information against harmful rumors about radioactive contamination concerned with steel product export and ferrous scrap trade. As for TEPCO’s power outage plan, Mr. Hayashida commented the association would approach the government to release negative impact on steel makers’ operations, especially special steel makers those which need continues electrification of their productive facilities. He explained Japanese crude steel production might not be able to exceed estimated 110 million tonnes per annum in fiscal 2010 ending in March 2011 due to the earthquake. He expressed crude steel production for fiscal 2011 cannot be forecasted under present unforeseeable conditions. Meanwhile, he commented domestic steel demand is unlikely to represent so strong while overseas demand is expected to pull Japanese steel production.Japan Steel Scrap Composite Prices (Sangyo Press)
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