Japan steelmakers focus on high-end products
Sep 11, 2012 | 02:59 PM
| Catherine Ngai
NEW YORK Japanese steelmakers hope to protect their domestic industry by championing high-value, high-quality products in the face of tough competition from their Chinese counterparts, according to top-level executives.
"Considering the size of the demand in mainland China, the size of production capacity in mainland China and the closeness of Japan to China, of course we feel very, very threatened by the growth of the Chinese steel industry," Takeo Aoyama, executive vice president of Nippon Steel USA Inc. and general manager of its Chicago office, said during a roundtable discussion hosted by AMM. "But we cannot cry for that. We have to compete."
Members of the Japan Iron and Steel Federation expressed concerns over Chinas major advances in steelmaking, as well as the countrys 626.7 million tonnes of crude steel production in 2010almost six times more than Japans production and nearly eight times more than U.S. output, according to World Steel Association data. As demand in China slows and oversupply concerns increase, some market participants have been alarmed at growing Chinese steel exports, which jumped in May to the highest level in 23 months (amm.com, June 25). ....
To access AMM's full content, please log in below. If you do not have an AMM account, we invite you to take a free trial or subscribe below.
Already a registered amm.com user?
Access to amm.com editorial content is granted only to paid subscribers and trialists. If you do not have an active account in your own name, please either subscribe or take a trial and you will have instant access to amm.com content. Sharing your login credentials with individuals who are not subscribers represents a violation of AMM copyright.
Every morning, every minute no matter how often you follow the markets, there's an AMM subscription to fit your needs.
Not sure if you are ready to invest in a subscription right now? Take a free, no-obligation trial. Start your free trial today.