Japan Import Flat Steel Stock Reduces Slightly

Japanese imported flat steel inventory at quays in Tokyo and Osaka decreased by 0.8% (2,000 tonnes) to 244,000 tonnes at end of January from December 2008, announced by Hanwa on Monday. The inventory decreased slightly to reflect slow business conditions despite of widely decreased import volume. The inventory increased by 20.1% (41,000 tonnes) from a year earlier level.

The inventory in Osaka decreased by 4.5% (5,000 tonnes) to 104,000 tonnes at end January from December. The stock was flat for plate, and increased by 5.5% (2,000 tonnes) to 38,000 tonnes for hot rolled coil while by 11.6% (7,000 tonnes) to 53,000 tonnes for cold coil.

The stock in Tokyo increased by 2.1% (3,000 tonnes) to 140,000 tonnes at end January from December. The stock increased by 16.6% (2,000 tonnes) to 14,000 tonnes for plate, by 2.3% (2,000 tonnes) to 87,000 tonnes for hot coil while decreased by 2.5% (1,000 tonnes) to 39,000 tonnes for cold coil.

Hanwa said new contracts for sheet import is low when domestic sheet inventory is stacked by makers and dealers, but it requires substantial time to adjust the inventory due to decreasing demand.