JFE Steel plans to cut crude steel production
Japan's steelmaker JFE Steel announced that it is planning to cut crude steel
production by about 300'000 tons to about 6.4 million tons due to no. 2 blast furnace at the Kurashiki area of West
Japan Steel Works' repair work.
The company will initiate repair work at the end of August and it is scheduled to complete in 85 days.
JFE will compensate no.2 blast furnace's
production cut with holding the other blast furnace's total
production capacity at around 300'000 tons. However, export and car
production in
Japan will continue to show upward trend in October-December. In relation with this, the supplies for distributors will drop in this period.
JFE will increase the steel prices for distributors and contract prices for major customers in October-December due to weak supply and demand.