Japan Quay Import Steel Stock Drops by 10.3% in March

Hanwa Co., Ltd. announced on Tuesday stocks of imported steel products at quays in Tokyo and Osaka decreased by 10.3% to 294,000 tonnes at the end of March from a month ago, when new arrival of imports decreased. The stocks decreased for 5 months in a row and to less than 300,000 tonnes for the first time since November 2004.The stocks decreased by 10.9% to 187,000 tonnes at quays in Osaka area at the end of March from a month ago. The stock decreased by 4 to 24,000 tonnes for steel plate, by 12.6% to 49,000 tonnes for hot rolled steel coil and by 11.6% to 114,000 tonnes for cold rolled steel coil.The stocks decreased by 9.3% to 107,000 tonnes at quays in Tokyo area in March from February. The steel plate stock kept flat at 19,000 tonnes, while hot rolled coil decreased by 2.1% to 46,000 tonnes and cold rolled coil by 19.2% to 42,000 tonnes.Steel sheet dealer said quay stocks would continue to decrease with less new arrival of imports when steel sheet supply is tightening in overseas markets.