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Projected growth in consumption of steel by Japanese shipbuilding companies

Asia

Ship steel orders in Japan will grow by 3 percent.

Projected growth in consumption of steel by Japanese shipbuilding companies

According to the Platts stock exchange news agency (USA), the Japanese Association of Shipbuilders predicts an increase in the volume of purchases of sheet steel, which is used in the construction of ships in general, by 3%. The period from April of the current year to March of the next year was adopted as the reporting period. In numbers, the forecast will look like this:

  • Plate steel - 2.76 million tons (3.3% growth).
  • Steel profile - 250,032 thousand tons (2.1% growth).

The growth is associated with an increase in orders for the construction of ships, which come from both Japanese and foreign companies. The data has been obtained on the basis of existing and pending agreement on production contracts. The capacities and technical capabilities existing in the association allow increasing the number of orders, which will accordingly affect the volumes of purchased steel. Which steel corporations will be preferred for procurement, the message is not specified.

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