Japan Common Steel Inventory Increases in January

Japanese common steel inventory increased by 3.3% to 5.542 million tonnes at Japanese steel makers and distributors at the end of January from a month ago, according to Japan Iron & Steel Federation. The inventory increased for 2 consecutive months. The inventory owed the increase to blast furnace repairing at some makers and seasonal shipment slow down. On the other hand, some sources are concerned there could be other factors for the inventory increase when the demand maintains firm. The inventory increased by 3.2 points to 109.5% of shipment for domestic market, which exceeded 100% for 2 consecutive months. The inventory for export increased by 7.9% to 1.023 million tonnes, up for the first time in 2 months. Total inventory increased by 4% to 6.566 million tonnes for domestic market and export. Steel makers’inventory increased to 5.16 million tonnes by 4% at the end of January from a month ago. Steel distributors’inventory increased to 1.406 million tonnes by 3.3%. Steel coil inventory increased by 92,000 tonnes to 1.639 million tonnes at the end of January from a month ago. Galvanized sheet increased by 51,000 tonnes to 978,000 tonnes, while cold wide strip up by 32,000 tonnes to 651,000 tonnes, rack rail up by 17,000 tonnes to 45,000 tonnes, cold magnetic sheet up by 13,000 tonnes to 100,000 tonnes, tin plate up by 12,000 tonnes to 103,000 tonnes and steel pipe up by 10,000 tonnes to 588,000 tonnes. H-beam inventory decreased by 17,000 tonnes to 299,000 tonnes and sheet pile decreased by 14,000 tonnes to 49,000 tonnes. Japanese common steel products production was 7.056 million tonnes in January while the shipment was 6.803 million tonnes.