IRUNIVERSE spoke at the 10th APAC Stainless, Nickel, Chrome, Molybdenum Conference held in Xiamen, China, on October 21st. Following their appearance last year, this marked their second presentation, delivered by three members: CEO Tanamachi, Sugihara, and Akai.
Sugihara provided an overview of IRUNIVERSE and MIRU, while Akai discussed the main topic. At the end, they encouraged participation in the "13th Tokyo Battery Summit" scheduled for March of next year.
During the presentation, it was pointed out that Japan's stainless steel production has decreased from a peak of 3 million tons to a level that is now dropping below 2 million tons. The factors cited for this decline were the erosion of Japan's presence in the Asian market due to price competition with South Korea, Taiwan, China, and now Indonesia.
They explained the current situation regarding Japan's stainless steel imports, where China has surpassed the former dominance of South Korea as the top source, with imports also increasing from Indonesia, Malaysia, and India.
It was mentioned that the Japanese government initiated an Anti-Dumping (AD) investigation into imported stainless steel from China and Taiwan in July of this year, and that tariffs are expected to be imposed in March of next year. However, they also noted that South Korea and Indonesia were not included in the scope of this AD investigation. Akai provided a slightly more detailed explanation on this point to the audience, covering topics such as the relationship between POSCO and Nippon Steel Corporation.
Regarding "green stainless steel," it is clear that from a CO₂ reduction perspective, stainless steel made primarily from scrap is greener than that made from Nickel Pig Iron (NPI) as a raw material. Japanese specialty stainless steel manufacturers are, in fact, increasing their scrap charging rates. However, a contrasting reality is that nearly 200,000 tons of scrap are currently being exported annually to countries like South Korea, China, and India.
Furthermore, it is highly probable that the Japanese stainless steel industry will increasingly pivot towards specialty products. Japanese manufacturers must specialize in unique products that only they can produce, or focus on specific countries, industries, and applications that require Japanese steel, as they simply cannot win on price competition.
The ultimate conclusion was that even if the AD tariffs are implemented (assuming a rate of around 30%), imports from both China and non-China sources are likely to continue rising. They suggested that if market demand for green stainless steel surges, perhaps driven by regulations such as Europe's CBAM (Carbon Border Adjustment Mechanism), it could represent a new opportunity for Japan's stainless steel sector.
After the presentation, I had a discussion with a representative from the European stainless steel manufacturer, Acerinox. They mentioned that European producers are cutting back on production due to the economic slump. Demand for stainless steel scrap in Europe appears to be declining, to the point where they are demand for stainless steel scrap in Europe appears to be declining, with sales offers for European scrap reaching Japan.They expect European CBAM regulations to intensify starting next spring, which they believe should reduce imports from China and Indonesia. However, they noted that the current Anti-Dumping (AD) duties that Europe has already imposed on stainless steel from China, India, Taiwan, and South Korea do not seem to be having much effect—suggesting that they lack the impact of a measure like the 100% tariffs seen in the United States.
（IRUNIVERSE YUJI TANAMACHI）
