After killing more than 9,523 people and throwing a quarter of a million people out of their homes, the catastrophic earthquake in Japan is going to drive up the sales of key material required to rebuild the shattered nation with an estimated loss of $300 billion.

Remembering the disaster of 1995 earthquake, the companies in Japan wanted everyone to get to the business of reconstruction quickly.

Top South Korean steelmaker POSCO has decided to raise its production output to meet the orders from Japan and it has also lifted its sales volume target by 1 million.

Aiming to sell more than 35 million tons of steel products this year, Executive Vice-President of POSCO, Hwang Eun-Yeon, said that it was hard to meet all the requests from Japan but they would try to do their best in this case.

Japan's Nippon Steel, JFE Steel and Sumitomo Metal Industries have also decided to resume their operations after being heavily affected by tsunami lately.

Rajnikant Patel, ICEX Managing Director and Chief Executive, said, “Rebuilding of Japan will stimulate the iron ore trade once again, which is sure to get reflected on our platform in terms of higher volume and increasing participation”.