Japan Steel Sheet Inventory Expected to Decrease to 4 Million Tonnes

Shoji Muneoka, chairman of Japanese steel industry committee and vice-president of Nippon Steel, said at a press conference on Friday that Japanese inventory of galvanized, hot- and cold-rolled steel sheet should decrease to 4 million tonnes as the moderate level at the end of June while the inventory increased to 4.15 million tonnes at the end of May.Mr. Muneoka also analyzed overseas steel industry conditions. He said that U.S. steels demand keeps strong while the supply is relatively easing. The background of the easy supply is resumption of 2 blast furnaces at CSN in Brazil and Mittal Steel in the U.S.A., the completion of blast furnace relining at US Steel and export expansion of steel products from China to the U.S.A. He pointed out Japanese steels should concern about the case that the U.S.A. shuts out steels import from China.As to the integration plan of Mittal Steel and Arcelor, Mr. Muneoka said that a giant steel maker would be established with superiority for both quality and volume and that Japanese steels would watch the movement of the matter.