Lower Import Flat Steel Stock in Japan

Hanwa Co. announced on Friday import flat steel quay inventory decreased by 10,000 tonnes or 4.5% to 212,000 tonnes in Tokyo and Osaka at the end of February from January. The stock decreased for the first time since November due to lower level of import arrivals. The stock level was 35.3% lower than a year earlier. The inventory decreased by 16,000 tonnes or 10.2% to 140,000 tonnes in Osaka in February from January. The inventory decreased by 2,000 tonnes or 11.7% to 15,000 tonnes for plate, by 5,000 tonnes or 13.5% to 32,000 tonnes for hot rolled coil and by 9,000 tonnes or 8.8% to 93,000 tonnes for cold coil. The stock increased by 6,000 tonnes or 9% to 72,000 tonnes in Tokyo in February from January. The stock increased by 1,000 tonnes or 14.2% to 8,000 tonnes for plate and by 5,000 tonnes or 19.2% to 31,000 tonnes for hot coil while the cold coil stock was flat at 33,000 tonnes. An importer source said Japanese hot coil import will keep lower level under tight supply in Asian market and the inventory level will keep low with low level plate import.