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Nippon Steel sees higher yen rate damaging Japan steel industry

JMB reported that Japanese dealers' H beam inventory decreased by 9.7% to 165,200 tonnes at member companies of Tokiwakai, which is group of distributors dealing Nippon Steel's products, at end of September from August 2010.

With the decreases for 3 months in a row, the stock decreased to less than 170,000 tonnes for the first time since November 1973. The inventory rate was 1.84 months of the shipment while the industry sees 2 months of inventory rate is normal.

Nippon Steel sees the stock level is extremely low but the firm keeps the production cut at more than 70% lower than normal level under slow demand.

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