TOKYO (Scrap Monster): The tsunami that devated the the adjacent coastal areas of Tokyo bay, causing severe damage may result in the closure of five large steel mills which could reduce iron ore demand globally, according to an assessment by The Steel Index.On Friday morningy, an 8+ magnitude earthquake hit off the east coast of Japan. Production will be halted at five large mills: Muroran and Kimitsu (Nippon Steel); Chiba and Keihin (JFE); and Kashima (Sumitomo Metals). Assuming the aforementioned mills are closed for six months, 22.2 million tonnes of iron ore demand could be removed from the seaborne market, TSI added.