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Composition On Supply / Demand Of Ferro-Alloys In Japan For Jul. - Sep. 2009 Quarter
=Reflecting Decreased Imports, Some Of Ferro-Alloys Arose With Tightened Supplies
When the composition on supply and demand of ferro-alloys in Japan for July - September quarter of 2009 is reviewed, it is known that the realities of this composition had continued with a severity, following the same case for the preceding quarter of April - June. The output of crude steel in Japan for July - September quarter of 2009 came down to 15.967 million tons, having had a considerable decrease of 47.6% compared with that (30.448 million tons) for the same quarter of 2008. This aspect caused to decrease the consumption of ferro-alloys in Japan for the quarter and influenced on domestic production of ferro-alloys and imports into Japan.

Therefore, in comparison with those in July - September quarter of 2008, (1) while manganese ferro-alloys, chrome ferro-alloys and silicon ferro-alloys are main items to be consumed in Japan, consumption of manganese ferro-alloys in the same quarter of 2009 decreased by 50.2%, that of chrome ferro-alloys decreased by 42.8% and that of silicon ferro-alloys also decreased by 46.8%, all of which were reduced by nearly half of those in July - September quarter of 2008., (2) these substantial decreases in domestic consumption of ferro-alloys were mainly driven to reduce the imports and the quantities of ferro-alloys imported into Japan in July - September quarter of 2009 had a large decline of 47 - 76%, following the same case in the preceding quarter of April - June., and (3) however, in consequence of a sudden and drastic reduction of stocks of ferro-alloys by consumers, the supply situation of ferro-silicon in Japan has tightened from November - December, although this matter did not come up yet to the surface until April - June quarter.

The quantities of main ferro-alloys produced, imported and consumed by Japan in July - September quarter of 2009 were as per the tables (1) and (2) attached hereto.

In addition to the realities on supply and demand of silico-manganese and ferro-silicon in Japan for July - September quarter of 2009 as seen from the attached tables, the stocks of these two ferro-alloys stored at warehouses in wharves and held by such distributors as trading companies had existed but these stocks have been reduced to a normal level in the course of November to December. Accordingly, the domestic market of ferro-alloys in Japan has been improved to the situation to await only a revival in production of crude steel. The supply of ferro-silicon to Japan has largely relied on that from China and, therefore, in view of the seasonal factors that <> arrivals of Chinese ferro-silicon in Japan are delaying by one month because of a heavy fog occurred at shipping ports in China and <>, in order to avoid an anxiety for confusion in shipments of ferro-silicon from China prior to Lunar New Year holidays, consumers in Japan are moving to purchase ferro-siliconon spot base to supplement their stocks, the supplies in Japan are suddenly changing to tighten.
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