Low Level Hot Coil Import in Japan

Japanese hot rolled coil import keeps low level in 2007. The quay inventory of the import has kept low since the stock decreased to less than 40,000 tonnes in Osaka in August 2006 and in Tokyo in May 2006 despite of the temporally increase in the year end, according to Hanwa Co. The stock level is less than 30,000 tonnes in Tokyo. The import is expected to keep low due to lower yen rate and higher selling prices by Asian steel makers. An importer source said importers cannot make money with high priced import and are reluctant to buy now.