Japan Import Flat Steel Stock Marks First Rise in 8 Months

Japanese imported flat steel inventory at quay in Tokyo and Osaka increased by 8.1% or 15,000 tonnes to 199,000 tonnes at end of May from April, which represents first increase since September 2007, announced by Hanwa Co. on Thursday. The inventory was 7% or 15,000 tonnes lower than a year earlier level. Hanwa sees the higher demand from April was due to slower demand in Tokyo. The inventory in Osaka decreased by 7.6% or 8,000 tonnes to 97,000 tonnes at end May from April. The stock decreased by 10% or 3,000 tonnes to 27,000 tonnes for hot rolled coil and by 13.4% or 9,000 tonnes to 58,000 tonnes for cold coil while the plate stock increased by 50% or 4,000 tonnes to 12,000 tonnes. The stock in Tokyo increased by 29.1% or 23,000 tonnes to 102,000 tonnes at end May from April. The stock increased by 42.8% or 3,000 tonnes to 10,000 tonnes for plate, by 35.2% or 18,000 tonnes to 69,000 tonnes for hot coil and by 9.5% or 2,000 tonnes to 23,000 tonnes for cold coil.