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The Crisis in Japan Boosts Steel Prices

With the tsunami and earthquakes that Japan has sustained recently the country will need a complete overhaul.  While Japan is known for making electronics and compact cars, it also will need all of its infrastructure replaced as well. The steel supply in the world is bound to be affected with higher prices over the next few years due to the demand. Lee Universal reports that “reconstruction should boost demand for steel with potential for significant increases in raw material imports. Whether the additional steel demand is met entirely by Japanese production or partially by China, Korea and/or Taiwan, the overall effect should be a boost to iron ore and coking coal imports into the region.”

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