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Mr. Tetsuo Imakubo, vice president of Nippon Steel said Japanese steel users are expected to adjust the operation in October 2008-January 2009, but actual demand is not clear when users are advancing the adjustment of their inventory, according to scheduled conference. Mr. Imakubo requested Japanese makers and dealers have to response rapidly for the demand and the inventory level. Mr. Imakubo said Japanese steel sheet inventory for hot, cold-rolled and surface treated sheet increased to 4.56 million tonnes by 90000 tonnes at the ended of November from October and they have to reduce Japanese steel sheet inventory for hot, cold-rolled and surface treated sheet to 4 million tonnes until March.

 

Mr. Imakubo said Japanese makers must take cares trade conflict when the protectionism is rising in each country.

 

Mr. Imakubo said Chinese steel inventory is expected to be adjusted by the output reduction of Chinese steel makers, and the market price may hit bottom when Anshan Steel, Chinese major steel maker raised the export price to Japan in January shipping. Mr. Imakubo expects the demand recovers by the expansion plan of domestic demand by Chinese government. –Japan Metal Bulletin