Japan is estimated to cost around US$ 180 Billion. A projected 10% of this reconstruction cost will be for steel. Reconstruction is expected to consume 30 Million Metric Tons of steel in the next two years

Japan has positioned itself as a strategic player globally as the second largest steel producer. Being an essential requirement for all infrastructural construction, the steel industry is closely linked with the development of the Japanese economy. The continuous surge of steel consumption in the automobile, energy, construction, and consumer goods sectors has significantly improved growth prospects of Japanese steel industry. However, the industry is facing some serious threats from the negative impact of the global economic crisis and increasing competition from its foreign counterparts. At the steel trade front, evidence indicates expansion of both exports and imports in the country. Exports witnessed rapid growth due to the increasing steel consumption in major importing nations from Asian region, and the Middle Eastern region. Similarly, imports also surged on the back of economic recovery and witnessed almost parallel trend. Moreover, the rebuilding of infrastructure in the earthquake and tsunami stuck region of Japan is estimated to cost around US$ 180 Billion. A projected 10% of this reconstruction cost will be for steel. Reconstruction is expected to consume 30 Million Metric Tons of steel in the next two years.

To Know More : Japan Steel Industry Analysis