JFE Steel to reduce HRC exports

JFE Steel to reduce HRC exports

Japanese steel producer JFE Steel will reportedly reduce its hot rolled coil exports by 500'000 tons in the quarter covering July-September period. The reduction in shipments accounts for 7-8 percent of JFE's total steel shipment. Sources report that the reduction in exports may lead to a reduction in overall production; however company officials did not confirm a production cutback. JFE officials stated that demand for high-end steel products used in automobiles and shipbuilding is fairly strong and the company supplies these products to its customers with its facilities running at full capacity. The cut in shipments aims to maintain prices of hot rolled coil.