Stocks of hot-rolled, cold-rolled and coated coils and sheets at Japanese mills, coil centers and distributors at the end of May were higher by 2.4% on month or by 105,000 tonnes to reach some 4.46 million tonnes, according to the latest data from Nippon Steel published on July 2. Industry watchers blamed restricted deliveries to customers for the rise, even though producers were cutting output to reduce inventories.
Steelmakers had been restraining production and focussing on balancing supply and demand to keep market conditions stable, a Nippon Steel official explained. “But slower economic activity in May from the virus outbreak impacted deliveries – not only from producers but also processors and distributors. Consequently, stocks held by each
To read the full article take a free 7-day trial to Mysteel Global