“The earthquake caused some damages in Japanese coastal steel industries, the advanced steel supply for vessel and vehicle will be limited. With the coming reconstruction, this may spring up our steel export”. From Mr Wang Jianhua, the director in “Mysteel” researching institute.

For the earthquake and tsunami, many steel plants were damaged. According to the latest news, some facilities and ports were flooded, there is no way to keep manufacturing for the after-shocks.

From Wang Jianhua, the earthquake directly caused about 26 millions tons steel productivity loss, severely impacted vehicle, shipment, wire, architecture, stainless steel and tubing industries.

Theses several steel products referred above will fall down in a short-term. The export of thin and thick plate will slump in the following six months, supply and demand balance will be broken, the market price is expected to be higher.

The total output in 2010 is 43.4 millions tons; about 45% of the total, Japan is the largest steel output country, Korea, China and other Asian countries are the target areas.

On 11th Mar, the price of 62% iron mineral fell over 2% to 168 USD/ton. It will only be 140 USD/ton in June. Before long, Japanese steel enterprise had just signed a big supply agreement with international iron mineral magnate, the import price for iron mineral will raise about 25% since April, which is unprecedented.

Related product: 304 steel