Japan’s carbon steel stocks rise on receding demand

By the end of May, Japan’s carbon steel stocks at steel mills and distributors totaled 5.93 million tonnes, up 2.4% on month, or the first rise in three months, according to the data released on June 30 by the Japan Iron & Steel Federation (JISF), indicating faster domestic demand decline and the no effect shown from production cuts, according to the market sources.
A JISF official explained that steel stocks ratio rose by 30.9 points on month to 224.6 points by the end of last month, or the highest since August 1977 when the federation commenced the survey. Steel stocks ratio is calculated by dividing the total stocks with those booked for shipping both for domestic and overseas


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