Japan New Accumulation of Steel Drops by 18% in F2007

Japanese estimated volume of additional accumulated steel decreased by 18% 9.553 million tonnes in fiscal 2007 ended March 2008 from fiscal 2006, which was the first drop to less than 10 million tonnes since the research start in fiscal 1971, according to Japan Ferrous Raw Materials Association. Higher ferrous scrap consumption and steel products export reduced the accumulation despite of the higher steel production. The association estimates the total accumulated steel was around 1.3 billion tonnes in fiscal 2007.

The association estimates the steel export including indirect export increased by 4.8% to 72.658 million tonnes in fiscal 2007 from fiscal 2006. The ferrous scrap export decreased by 14% to 6.435 million tonnes.

The new accumulation of steel has decreased from the peak of 44.83 million tonnes in fiscal 1990. The new accumulation increased to 15.12 million tonnes in fiscal 2004 but the volume dropped to 12.94 million tonnes in fiscal 2005 and to 11.64 million tonnes in fiscal 2006.