Stagnant Demand in the Stainless Steel Industry and for Ferro-Nickel
First written in FY2016. 16 of 32 entries say "Restated". Latest entry: 2026-08-06.
Pacific Metals moved to the "Worse" side of this theme in 2025.
0 other companies' latest entry also says "Worsened".
- 2026-08-06WorsenedRevision of earnings forecasts
「Under these conditions, the stainless steel industry, the main source of demand for the nickel business that accounts for most of our group's sales and profit or loss, maintained high production levels in China, the world's largest producer, even as the decline in construction demand accompanying the stagnation of the real estate market became more serious. Excess exports progressed against a widening supply-demand gap, strongly affecting market conditions in each country, while capacity utilization rates varied among producers.」
The disclosure describes the worsening decline in construction demand in China, the widening supply-demand gap and the progression of excess exports. - FY2026WorsenedAnnual report
「Under these conditions, the stainless steel industry, the main customer industry for the nickel business that accounts for most of the Group’s revenue and profit or loss, saw China announce policies to curb excess production of steel and other products. However, the impact was not felt immediately because the downturn in construction demand accompanying the stagnation of the real estate market was worsening. In addition, Indonesia, whose production has surged in recent years, was temporarily affected by U.S. trade policy, and operating rates at production facilities generally fluctuated.」
In addition to stagnation in China’s real estate market and weak construction demand, the impact of expanded production in Indonesia and U.S. trade policy was explicitly stated, and operating rates among major customers have continued to fluctuate. - FY2026-H1Added the impact of expanded production in Indonesia and U.S. trade policyAnnual report
「In addition to the aforementioned conditions, procurement has shifted to nickel pig iron, which offers a price advantage, and a review of the stainless steel scrap blending ratio with carbon neutrality in mind has also been seen. Ferronickel demand therefore continued to show a slowing trend.」
The slowing trend in ferronickel demand continues to be described against a backdrop of the shift in procurement to nickel pig iron and the review of scrap blending ratios. For the stainless steel industry, the impact of expanded production in Indonesia and uncertainty surrounding U.S. trade policy was also explicitly stated. - FY2025WorsenedAnnual report
「In addition to the aforementioned conditions, some procurement has shifted to nickel pig iron, which offers a price advantage, and a review of the stainless steel scrap blending ratio with carbon neutrality in mind has also been seen. Ferronickel demand therefore continued to show a slowing trend.」
The slowing trend in ferronickel demand is described against a backdrop of stagnation in China’s real estate market, fluctuations in operating rates in the stainless steel industry, the ongoing shift in procurement to nickel pig iron and the continued review of scrap blending ratios. - FY2025-H1RestatedAnnual report
「In addition to the aforementioned conditions, overseas stainless steel producers have shifted some procurement to nickel pig iron, which offers a price advantage, and have also reviewed their stainless steel scrap blending ratios with carbon neutrality in mind. Ferronickel demand therefore continued to show a slowing trend.」
The slowing trend in ferronickel demand continues to be described against a backdrop of a partial shift in procurement to nickel pig iron and a review of the stainless steel scrap blending ratio. - FY2024RestatedAnnual report
「In addition to the aforementioned conditions, overseas stainless steel producers have shifted some procurement to nickel pig iron, which offers a price advantage, and have also reviewed their stainless steel scrap blending ratios with carbon neutrality in mind. Ferronickel demand therefore followed a slowing trend.」
The slowing trend in ferronickel demand has been reconfirmed against a backdrop of a partial shift in procurement to nickel pig iron and a review of the stainless steel scrap blending ratio. - FY2024-Q3RestatedAnnual report
「In addition to the aforementioned conditions, overseas stainless steel producers have shifted some procurement to nickel pig iron, which offers a price advantage, and have also reviewed their stainless steel scrap blending ratios with carbon neutrality in mind. Ferronickel demand therefore followed a slowing trend.」
The slowing trend in ferronickel demand has been reconfirmed against a backdrop of a partial shift in procurement to nickel pig iron and a review of the stainless steel scrap blending ratio with carbon neutrality in mind. - FY2024-Q2Additional explicit mention of a review of the stainless steel scrap blending ratioAnnual report
「In addition to the aforementioned conditions, overseas stainless steel producers shifted some procurement to nickel pig iron, which offered a price advantage, and also reviewed their stainless steel scrap blending ratios with carbon neutrality in mind. Ferronickel demand therefore followed a slowing trend.」
A review of the stainless steel scrap blending ratio with carbon neutrality in mind has been added as a factor contributing to the slowing trend in ferronickel demand, alongside the partial shift in procurement to nickel pig iron. - FY2024-Q1RestatedAnnual report
「As a result, ferronickel demand followed a slowing trend.」
The slowing trend in ferronickel demand has been reconfirmed against a backdrop of weak actual demand in China, fluctuations in operating rates at stainless steel production facilities and the prolonged situation in Ukraine. - FY2023RestatedAnnual report
「As a result, ferronickel demand showed signs of slowing.」
As in the previous quarter, it states that ferronickel demand was slowing against a backdrop of uncertainty in stainless steel market conditions and fluctuations in operating rates. - FY2023-Q3WorsenedAnnual report
「Under these conditions, demand in the stainless steel industry, the main customer industry for the nickel business that accounts for most of the Group’s revenue and profit or loss, was showing signs of recovery as economic activity returned to normal. However, uncertainty in market conditions increased due to the impact of China’s infectious disease measures, the sluggish real estate market and the prolonged situation in Ukraine, among other factors, and operating rates at production facilities fluctuated. As a result, ferronickel demand showed signs of slowing.」
While demand was showing signs of recovery, uncertainty in market conditions increased due to China’s infectious disease measures, the sluggish real estate market and the prolonged situation in Ukraine. Operating rates at production facilities also fluctuated, and ferronickel demand showed signs of slowing. - FY2023-Q1WorsenedAnnual report
「As a result, ferronickel demand showed signs of slowing.」
Ferronickel demand changed from the previous fiscal year’s “some recovery” to a situation in which signs of slowing were seen, against a backdrop of uncertainty in stainless steel market conditions and fluctuations in operating rates. - FY2022MitigatedAnnual report
「As a result, ferronickel demand showed some recovery.」
Although uncertainty caused by infectious disease and electricity regulation issues in China remains, ferronickel demand recovered against a backdrop of a recovery in demand and operating rates in the stainless steel industry. - FY2022-Q3RestatedAnnual report
「As a result, ferronickel demand showed some recovery.」
It has been reconfirmed that ferronickel demand showed some recovery despite continued uncertainty caused by infectious disease and electricity regulation issues in China. - FY2022-Q1MitigatedAnnual report
「As a result, ferronickel demand showed some recovery.」
Although uncertainty remains regarding infectious disease and the production trends of major overseas producers, ferronickel demand turned from a sluggish trend to some recovery against a backdrop of recovering operations in the stainless steel industry. - FY2021-Q3WorsenedAnnual report
「As a result, ferronickel demand remained sluggish.」
Ferronickel demand deteriorated from the previous description of being “firm but stalled” to a sluggish trend. - FY2021-Q1WorsenedAnnual report
「As a result, ferronickel demand remained sluggish.」
From the previous description of demand as “firm but stalled,” ferronickel demand became sluggish against a backdrop that included demand contraction caused by infectious disease. - FY2020WorsenedAnnual report
「The slowdown in ferronickel demand is expected to continue for the time being」
Demand remained firm but stalled in the fiscal-year results, and the spread of infectious disease indicated that demand was expected to remain sluggish for the time being. - FY2020-Q3RestatedAnnual report
「As a result, ferronickel demand remained firm but stalled.」
Although ferronickel demand remained firm amid some production adjustments and uncertainty in the business environment in the stainless steel industry, its growth stalled. - FY2020-Q2Demand remained firm but growth stalledAnnual report
「As a result, ferronickel demand remained firm but stalled.」
Although ferronickel demand remained firm, it stalled against a backdrop of large inflows of stainless steel products from some overseas producers and other factors. - FY2020-Q1Production adjustments due to inflows of overseas products, but demand remained firmAnnual report
「Under these conditions, the stainless steel industry, the main source of demand for the nickel business that accounts for most of the Group's revenue and profit or loss, saw production adjustments, partly due to the impact of large inflows of stainless steel products from some overseas producers into the market, but maintained a certain level of operations and continued to receive firm orders. As a result, ferronickel demand remained firm amid balanced supply and demand.」
Although large inflows of stainless steel products from some overseas producers led to production adjustments, ferronickel demand was considered firm, supported by a certain level of operations and solid orders. - FY2019-Q3RestatedAnnual report
「As a result, ferronickel demand remained firm amid balanced supply and demand.」
The Company reiterates that ferronickel demand remained firm despite some production adjustments in the stainless steel industry. - FY2019-Q2RestatedAnnual report
「As a result, ferronickel demand remained firm amid balanced supply and demand.」
The Company reiterates that, although some adjustments were seen in the stainless steel industry, ferronickel demand remained firm amid balanced supply and demand. - FY2019-Q1RestatedAnnual report
「Under these conditions, the stainless steel industry, the main source of demand for the nickel business that accounts for most of the Group's revenue and profit or loss, saw some adjustments to production activity but generally maintained good operating rates; orders remained firm and conditions remained stable. As a result, ferronickel demand remained firm amid balanced supply and demand.」
The Company reiterates that, although some adjustments were seen in the stainless steel industry, operating rates were generally good, orders remained firm and ferronickel demand remained solid. - FY2018-Q3RestatedAnnual report
「Under these conditions, the stainless steel industry, the main source of demand for the nickel business that accounts for most of the Group's revenue and profit or loss, saw differences in operating rates in Japan and overseas, but orders remained firm and conditions remained stable. As a result, ferronickel demand remained firm amid balanced supply and demand.」
The Company reiterates that, despite differences in operating rates in the stainless steel industries in Japan and overseas, orders remained firm and ferronickel demand remained solid. - FY2018-Q2RestatedAnnual report
「As a result, ferronickel demand remained firm amid balanced supply and demand.」
The Company reiterates that ferronickel demand remained firm amid balanced supply and demand, even as some production adjustments were seen. - FY2018-Q1RestatedAnnual report
「As a result, ferronickel demand remained firm amid balanced supply and demand.」
The Company reiterates that ferronickel demand remained firm amid balanced supply and demand. - FY2017RestatedAnnual report
「As a result, ferronickel demand remained firm amid balanced supply and demand.」
The Company reiterates that ferronickel demand remained firm amid balanced supply and demand. - FY2017-Q3RestatedAnnual report
「As a result, ferronickel demand remained firm amid balanced supply and demand.」
The Company reiterates that ferronickel demand remained firm amid balanced supply and demand. - FY2017-Q2RestatedAnnual report
「As a result, ferronickel demand remained firm amid balanced supply and demand, reflecting trends in the stainless steel industries in Japan and overseas.」
The Company states that ferronickel demand remained firm, following the previous quarter, while orders in the stainless steel industry remained solid. - FY2017-Q1MitigatedAnnual report
「As a result, ferronickel demand remained firm amid balanced supply and demand, reflecting trends in the stainless steel industries in Japan and overseas.」
The Company states that demand remained firm in the first quarter, compared with the slow-recovery, broadly flat conditions of the previous fiscal year. However, the stainless steel industry overall remained broadly flat. - FY2016MaterialisedAnnual report
「Ferronickel demand remained broadly flat, with a slow recovery, reflecting trends in the stainless steel industries in Japan and overseas.」
Against a backdrop of China's economic slowdown and other factors, the stainless steel industries in Japan and overseas and ferronickel demand remained broadly flat, with a slow recovery.