Thursday, March 24,
The Japanese government on Wednesday said this month’s tsunami that killed over 9,000 people so far may have caused damages up to $309 billion (nearly Rs 13.85 lakh crore), making it the largest ever natural catastrophe in terms of economic damage.*
According to market experts it will take five more years of reconstruction which will surge the steel demand.Japan, which depends on imported coal for most of its requirements, is in search of alternatives to nuclear power after the March 11 quake which requisite to shut down its 11 reactors.
Demand for coal will grow to structure for the mislaid nuclear power because it’s cheaper than oil and gas.
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