TOKYO (Scrap Monster): According to the latest government data, the Japanese stainless steel production increased during the month of March this year.
As per data, Japan's total stainless steel production during the month of March was 268,079 tons. This is 15.8% higher than the output a month ago. The country's stainless steel production during February this year had totaled 231,501 tons. Also, the stainless steel production during March this year was 12.2% higher when compared with the production during the same month a year ago.
Out of the 268,079 tons, chromium-based stainless steel output totaled 124,915 tons, nearly 47% of the total output. The monthly output of chromium-based stainless steel products grew by 19.8% in comparison with the output a month ago.
Nickel-based stainless steel output constituted the balance 143,164 tons, accounting for 53% of the total stainless steel output. The monthly output of nickel-based stainless steel grew by 12.4% in comparison with the output a month ago.
The country's stock of stainless steel reached 121,920 tons during March. The stock held by steel producers has dropped by nearly 2% when compared with the inventory levels during the same period last year.