Japan Steel Tonnage Increment Narrows by 44% in F2008

Total steel tonnage increment in Japan was 5.389 million tonnes in fiscal 2008 (April 2008-March 2009) from fiscal 2007, according to Japan Ferrous Raw Materials Association. The increment was narrower by 43.6% than fiscal 2007 and hit the 50-year lowest. Domestic steel makers’ output and steel import dropped down. The total tonnage was about 1.32 billion tonnes at the end of March 2009.

Steel makers’ domestic production decreased by 14% to 96.46 million tonnes in fiscal 2008 from fiscal 2007 while Japanese steel import decreased by 10.2% to 7.386 million tonnes. Japanese steel export decreased by 9.9% to 65.472 million tonnes, in which ferrous scrap export was 6.266 million tonnes. Japanese ferrous scrap consumption decreased by 13.5% to 38.133 million tonnes.

In fiscal 2006, steel makers’ production and steel import increased year-to-year while steel export and ferrous scrap consumption increased largely. As a result, Japanese total steel tonnage increment narrowed from fiscal 2005. In fiscal 2007, total steel tonnage increased by 9.55 million tonnes from fiscal 2006. The increment was less than 10 million tonnes when steel export and ferrous scrap consumption increased while steel import decreased.

Total collection of waste ferrous scrap is estimated at 30.1 million tonnes in fiscal 2008. The waste scrap recovery rate upped by 0.02 points to 2.29% compared with fiscal 2007.