- Stainless steel imports surge on record Chinese, Taiwanese volumes
- Nickel-based stainless grades dominate Japan’s import mix
Japan’s imports of stainless cold-rolled steel sheets reached a historic high in FY’24, exceeding 200,000 t for the first time, driven largely by a surge in shipments from China and Taiwan. According to data released by the Ministry of Finance on 25 April, total imports rose by 25.5% y-o-y to 213,056 t.
China emerged as the top exporter, increasing its shipment volume by 63.1% to a record 97,849 t. Taiwan followed closely with a 19.1% increase to 53,073 t, also hitting a new high. Together with South Korea, these three countries accounted for approximately 95% of total imports. Notably, Indonesia also recorded a sharp increase, with imports rising by 79.8% to 6,516 t, reflecting growing market interest and competition.
By steel grade, nickel-based stainless products dominated the imports with 176,917 t, making up 83% of total volumes. Country-wise, the nickel-grade share stood at 69% for South Korea, 82% for China, 95% for Taiwan, and nearly 100% for Indonesia.
Monthly data from March highlighted continued momentum, with imports jumping 52.3% y-o-y to 21,554 t. China posted a record monthly high of 10,407 t (up 92.4%), while Taiwan saw shipments rising by 81.5% to 5,971 t. Indonesia’s imports more than doubled to 1,132 t. South Korea, however, saw a 27.8% decline.
Overall stainless steel imports-including plates, strips, wire rods, and pipes-also reached an all-time high of 326,257 t in FY’24, a 19.1% increase y-o-y. Both cold-rolled sheets and welded steel pipes recorded peak sales volumes, reflecting heightened supply pressure and trade tensions across Asia.
Note: This article has been written in accordance with a content exchange agreement between Mysteel and BigMint.
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