Japan’s steel inventories for domestic use (manufacturers and wholesalers) rose to 5.337 million tonnes (mnt) at the end of February. This marked the slight increase of 0.4% or 22,000 tonnes (t) m-o-m from the previous month, marking the second month in a row with rising inventories. This information is based on a preliminary report by the Japan Steel Federation released on 29 March.
Inventory rate declines despite increase
- The inventory rate for domestic steel reflected a 7.9 percentage point decrease in February compared to January.
- The decline is attributed to a 5% increase in domestic shipments during the same month.
Export inventories surge
- Inventories designated for export increased by approximately 130,000 t, reaching 1,224,000 t.
Combined inventory ratio up
- This represented 5.4 points increase from the previous month.
- Cold-rolled sheet and galvanised steel sheet inventories surpassed 150% when including export volumes.
Note: This article has been written in accordance with an article exchange agreement between Japan Metal daily and BigMint.