Roskill: Japan’s steel restructuring: Just the beginning…
The Japanese steel industry has a total capacity of 130Mtpy. In 2019, Japan’s crude steel production was 99Mt falling to 83Mt in 2020, implying a 64% capacity utilisation. Nippon Steel is Japan’s largest producer accounting for more than 50% of the country’s crude steel output. Like its peers in Europe, the Japanese steel industry is facing overcapacity with dire prospects. Domestic demand is on a downward trend, in line with a falling demography, making the Japanese steel industry highly dependent on exports. Roskill’s new Steel Alloys 1st Edition report discusses key aspects impacting the Steel Alloys industry together with a 10-year forecast for steel and its alloys.
The EU and the US are net steel importers, but Japan is the world’s second largest steel exporter after China. Japan is even more reliant on exports than China with a net export ratio of 25% versus 5% for China. And the outlook for Japanese steel exports does not look good. China is increasingly gaining market share in Southeast Asia, the region’s battleground. The steel quality gap between Japanese and Chinese material has narrowed, and one should not forget Korea, another strong regional player. Moreover, additional steel capacity is being built in Southeast Asia, implying a fiercer competitive environment in the years ahead.
- yahoo.com
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