Japan's steel inventory increases m-o-m in Mar'24: JISF

Japan Iron and Steel Federation (JISF) released a report on 30 April, 2024 which indicated stockpiles of ordinary steel products held by manufacturers and wholesalers for domestic use rose slightly in March 2024. Inventories reached 5.431 million tonnes (mnt), a 0.9% or 47,000 tonnes (t) m-o-m increase from February 2024.

Inventory levels have been rising for three months in a row. However, domestic shipments have also climbed by about 9% this month. This helped bring down the inventory ratio to 168.8%, a decrease of 14 points from the end of February. It appears inventory adjustments are making good progress.

The inventory rate for domestic steel witnessed a decline for the second month in a row. Notably, this is the first time in four months (since November 2023) that the rate has dipped below 170%. This suggests an improvement in the steel supply chain.

Inventories for exported steel products also saw a downward trend. Compared to the previous month, export inventories dropped by roughly 130,000 t to 1.092 mnt. This decrease is reflected in the combined domestic and export inventory ratio, which fell by 21 points to 124.0%.

Note: This article has been written in accordance with an article exchange agreement between Japan Metal daily and BigMint.