Japan Import Steel Stock Drops by 2.8% in January

Japanese import steel inventory decreased by 2.8% or 6,000 tonnes to 203,000 tonnes at quay warehouse in Osaka and Tokyo at the end of January from December, according to Hanwa Co. The stock decreased with strong demand and lower import arrivals. The stock decreased for 4 months in a row and 8.5% or 19,000 tonnes lower than a year earlier level. The stock decreased by 0.8% or 1,000 tonnes to 121,000 tonnes in Osaka at end January from December. The stock decreased by 4,000 tonnes or 4.6% to 82,000 tonnes for cold rolled flat steel while the stock increased by 10% to 11,000 tonnes for plate and by 7.6% to 28,000 tonnes for hot rolled coil. The stock decreased by 5.7% or 5,000 tonnes to 82,000 tonnes in Tokyo at end January from December. The stock decreased by 7.8% to 47,000 tonnes for hot coil and by 3.4% to 28,000 tonnes for cold coil while the stock was flat at 7,000 tonnes for plate. Industry source said the inventory will keep low level with slower import when offshore makers are reluctant to increase the export to low priced Japanese market.