Japan Carbon Steel Order Hits 10-Year Low in F2008

Japanese steel makers’ order receipt of carbon steel decreased by 17.6% to 66.25 million tonnes in fiscal 2008 ended March 2009 from fiscal 2007, announced by Japan Iron and Steel Federation on Monday. The volume was the lowest level in 10 years. The order for domestic market decreased by 17% to 47.49 million tonnes, which was the lowest level in 25 years and decreased to less than 50 million tonnes for the first time in 22 years. The export order decreased by 19.2% to 18.76 million tonnes, which was the lowest volume in 10 years.

The carbon steel order decreased by 43.7% to 3.907 million tonnes in March from a year earlier, which decreased for 8 months in a row and hit the widest drop topping former largest drop in January 2009. The domestic order decreased by 45.6% to 2.655 million tonnes, which was still historical low level. The export order decreased by 39.2% to 1.252 million tonnes while the export order increased by 1.6% from February.

The order for domestic market in March decreased by 34.4% to 766,000 tonnes from a year earlier. The order from manufacturers decreased by 47.8% to 1.167 million tonnes. The order was still historical low while the order increased for some applications including automobile and industrial machinery and for some items including galvanizing steel and cold rolled flat steel from February.