Japanese Nippon Steel in discussions to reduce output
Japanese steel maker Nippon Steel is in discussions with POSCO, Bao Steel and
China Steel Corp. to reduce
production with the intention to stop prices from further dropping, SteelOrbis understands.
Meanwhile NSC announced that it will reduce
HRC and
plate production to local market. In case others do not follow, the company might keep its high level of
production, as its reduction announcement does not appear to include crude steel
production.