Japan Import Steel Stock Drops by 1.3% in October

Hanwa Co. announced on Monday Japanese imported steel inventory at quay in Tokyo and Osaka decreased by 1.3% or 3,000 tonnes to 224,000 tonnes at end of October from September, which was first drop in 3 months. The stock decreased with less import arrivals. The stock level was 3.7% or 8,000 tonnes higher than a year earlier level. The stock increased by 0.8% or 1,000 tonnes to 119,000 tonnes in Osaka in October from September. The stock increased by 11.2% or 9,000 tonnes to 89,000 tonnes for cold rolled flat steel while the stock decreased by 28.5% or 4,000 tonnes to 10,000 tonnes for plate and by 16.6% or 4,000 tonnes to 20,000 tonnes for hot rolled coil. The stock decreased by 3.6% or 4,000 tonnes to 105,000 tonnes in Tokyo in October from September. The stock decreased by 5.9% or 4,000 tonnes to 63,000 tonnes for hot coil while the stock was flat at 9,000 tonnes for plate. Japanese importer source said the import arrival is still low level while the import level could increase under higher yen rate against US dollar. The source expects the import stock is likely to keep low level.