TKS to reduce stainless steel production in Q3
German steel producer ThyssenKrupp AG announced today that it would reduce third quarter stainless steel production by a combined 120'000 tons at two of the company's plants in an effort to bring the supply and demand situation back into balance, especially for cold-rolled stainless strip. Affected by the cutbacks are ThyssenKrupp Nirosta GmbH in Germany and ThyssenKrupp Acciai Speciali Terni S.p.A. in Italy. The reduction accounts for a 20% cut in ThyssenKrupp's total quarterly production capacity and will affect both plants to roughly the same extent. ThyssenKrupp emphasized, however, that no job cuts are planned for the third quarter.TKS to reduce stainless steel production in Q3
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