Japanese steel plate stocks fell for the first time in 5 months

According to the sales data of 12 member companies released by the Tokyo Steel Sales Federation, in July, Japanese steel plate sales were 36,700 tons, an increase of 0.2% from the previous month; steel inventory was 61,600 tons, down 2.2% from the previous month, for 5 consecutive years. For the first time since the month, the chain has fallen.

Japanese industry insiders said that demand for steel sheets for construction in Japan is rising in the near future, leading to tighter market supply.

It is understood that Japan’s largest steel company, Nippon Steel & Sumitomo, announced that it will increase its construction steel sheet price by 5,000 yen/ton in October this year. Previously, Japan's largest steel producer Kyoei Steel announced that it will increase its steel bar price by 2,000 yen/ton in shipments in September this year. In this regard, Kyoei Steel said that the price increase is to offset the impact of rising raw material prices, including scrap and alloys.
 

Source: China Steel News Network

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