According to the statistics concerning nonferrous metals compiled and released by the Ministry of Economy, Trade & Industry of Japan, the total quantity of nickel metal consumed by the industries of Japan in the first quarter of 2009 came to 5,920 tonnes, down by 58.4% YoY as compared with that of 14,238 tonnes in the same quarter of 2008, and this large decline of nickel consumption in Japan is thought to have reflected a depression of economic activities mainly in automobile industry.
Among these industries, special steel sector, including stainless steel, had a large decrease of nickel consumption and the 4,087.5 tonnes of nickel metal consumed by this sector in January to March quarter of 2009 had a remarkable decline of 63.3% from that of 11,136.5 tonnes in the same quarter of 2008. The output of crude stainless steel by five major stainless steel companies of Japan in January to March quarter of 2009 had fallen to the level of 38% on the basis of its operation rate compared to that of 995,000 tonnes in the same quarter of 2008 and this substantial reduction in production of crude stainless steel had put a deep shadow on nickel consumption in Japan.
Nickel consumption in magnetic materials sector for the quarter had been depressed in the same case as that of special steel sector and this sector consumed 238.4 tonnes of nickel metal in January to March quarter of 2009, down by 64.8% YoY as compared with that of 667.5 tonnes in the same quarter of 2008.
On the other hand, the nickel industry of Japan produced 6,233 tonnes of nickel metal in January to March quarter of 2009 and, therefore, domestic nickel demand in January to March quarter had been fully covered by nickel metal produced in Japan as an extraordinary case.
Meanwhile, according to the statistics released by the Ministry of Finance, Japan imported 5,928 tonnes of nickel metal in January to March quarter of 2009 and also, according to the steel statistics compiled and released by METI, Japan imported 6,992 tonnes of nickel metal in the first quarter of 2009.
(Sourced from www.texreport.co.jp)
