Japan Import Flat Steel Stock Marks First Rise in 2 Months

Japanese imported flat steel inventory at quay in Tokyo and Osaka increased by 4.0% or 8,000 tonnes to 208,000 tonnes at end of August from July, which represents the first increase in 2 months, announced by Hanwa Co. on Wednesday. The inventory was 2.3% or 5,000 tonnes lower than a year earlier level. Hanwa sees the inventory increase in August from July was due to slower demand for hot rolled coil. The inventory in Osaka decreased by 2.0% or 2,000 tonnes to 96,000 tonnes at end August from July. The stock increased by 15.3% or 4,000 tonnes to 30,000 tonnes for hot rolled coil while the stock decreased by 8.3% or 5,000 tonnes to 55,000 tonnes for cold coil and by 9.0% or 1,000 tonnes to 11,000 tonnes for plate.The stock in Tokyo increased by 9.8% or 10,000 tonnes to 102,000 tonnes at end August from July. The stock increased by 12.3% or 8,000 tonnes to 73,000 tonnes for hot coil and by 10.7% or 3,000 tonnes to 31,000 tonnes for cold coil while the stock decreased by 11.1% or 1,000 tonnes to 8,000 tonnes for plate.Japanese trading firm source expects the inventory could increase when the import could increase under slower demand in Asia and yen rate increases against US dollar.