Import Steel Stock Drops in Osaka and Tokyo

Hanwa Co. reported on Friday the import steel inventory decreased by 22,000 tonnes or 8% to 254,000 tonnes at quays in Osaka and Tokyo at the end of May from April. The inventory decreased by 140,000 tonnes or 36% from a year earlier after the month to month decreases for 7 months in a row. The inventory decreased by 11,000 tonnes or 6% to 173,000 tonnes in Osaka at the end of May from April. The inventory decreased by 11,000 tonnes or 12% to 81,000 tonnes in Tokyo. The stock decreased for 7 months in a row in Osaka and for 3 months in a row in Tokyo. The Osaka’s inventory decreased by 2,000 tonnes to 23,000 tonnes for plate, by 4,000 tonnes to 42,000 tonnes for hot rolled coil and by 5,000 tonnes to 108,000 tonnes for cold coil at the end of May from April. The Tokyo’s stock decreased by 6,000 tonnes to 37,000 tonnes for hot coil and by 6,000 tonnes to 26,000 tonnes for cold coil while the plate stock increased by 1,000 tonnes to 18,000 tonnes. The Osaka’s stock in May was same level as January 2005 and 70,000 tonnes smaller than the recent peak. The Tokyo’s stock was same level as March 2004 and 80,000 tonnes lower than the recent peak. The Tokyo’s stock decreased to less than 100,000 tonnes as April.