Japan's important steelmaker Nippon Steel will continue the reduced
production of steel plates in
Japan for the third quarter of the year. The decision is a result of the slow demand of domestic
construction sector, although the demand for the material for exports and for the
shipbuilding industry still remains pretty strong. The company started to reduce
production in the second quarter with the aim of adjustment of inventories.
According to industry reports, JFE Holding is also intending to reduce the
production levels for
construction. These producers are aiming to balance the supply and demand and prevent the inventory levels from rising. The
production cuts are expected to be more than 10%.