Japan Carbon Steel Import Drops by 9.4% in F2008

Japanese carbon steel import decreased by 9.4% to 3.32 million tonnes through fiscal 2008 (Apr08-Mar09) from fiscal 2007, which decreased for 3 consecutive years, announced by Japan Iron and Steel Federation on Tuesday. Large dealers and importers held off the import of steel products, mainly steel sheets, due to high inventory volume with slow demand after last autumn.

Carbon steel import decreased by 14.9% to 1.41 million tonnes for hot rolled sheets in fiscal 2008 from fiscal 2007, by 12.8% 852,995 tonnes for cold rolled sheets, by 13.2% to 317,198 tonnes for zinc coated sheets and by 23.5% to 70,019 tonnes for steel tubes.

On the other hand, the import increased by 5.5 times to 11,741 tonnes for sheet piles, by 13.5% to 81,771 tonnes for H-beams, by 38.5% to 16,714 tonnes for steel bars, by 12.5% to 248,781 tonnes for wire rods and by 32.2% to 213,468 tonnes for plates. General contractors seemed to increase the import of cheaper products for building materials.

The import decreased by 17.5% to 209,006 tonnes for special steels and by 2.5% to 607,140 tonnes for secondary processed steel products.

Carbon steel import decreased by 12.4% to 1.91 million tonnes from South Korea and by 18.4% to 641,536 tonnes from Taiwan. Meanwhile, the import increased by 12.5% to 653,170 tonnes from China and by 25.1% to 44,557 tonnes from Thailand.