JFE plans to reduce production by 10%
According to the news in the market, main blast furnace in Japan JFE has recently announced that it plans to reduce steel sheet production by 10% over production of 600'000 tons recorded in July-September period in order to stabilize balance of supply and demand. Taking into consideration that the company has stocks of over 4 millions tons, the officials of the company express that the stock is high for domestic market. The reduction in production will be materialized as of November and will be ongoing during 2004 depending on the stock level.