TOKYO: According to the latest statistics released by the Ministry of Economy, Trade and Industry (METI), the Japanese stainless steel production increased during the month of July this year.
As per data, Japan’s total stainless steel production during the month of July was 231,194 tons. This is slightly higher by 2.9% when compared with the output during the previous month. The country’s stainless steel production during June this year had totaled 224,632 tons. However, the stainless steel production during July this year was down by 3.2% when compared with the production during the same month a year ago. The Japanese stainless steel production had totaled 258,672 tons during July last year.
Out of the 231,194 tons, chrome-type stainless steel output totaled 112,003 tons, over 48% of the total output. The monthly output of chromium-based stainless steel products surged higher by nearly 9% in comparison with the output of 103,170 tons a month ago. The production of Cr-type and Cr-Mo-type hot rolled stainless by the country totaled 94,203 tons and 17,800 tons respectively.
Nickel-based stainless steel output constituted the balance 119,191 tons, accounting for nearly 52% of the total stainless steel output. The monthly output of nickel-based stainless steel dropped slightly in comparison with the output of 121,462 tons a month before.
The country’s stock of stainless steel reached 107,094 tons during July. The stock held by steel producers has increased by nearly 7% when compared with the inventory levels during the previous month. However, inventory levels during the month were down significantly from 120,118 tons in July 2014.
