Nippon Steel and JFE to cut crude steel outputs in Q2

Japanese steel producers Nippon Steel and JFE intend to cut their crude steel production by about five percent in the second quarter of the current year, as compared to their originally planned outputs, in response to the reduced output of the automotive sector, the Tokyo-based newspaper Nikkei Business Daily has reported.
 
Accordingly, in the second quarter, Nippon Steel plans to produce about 7.6 million mt of crude steel, while JFE aims to produce 7.2 million mt of crude steel. The steelmakers respectively produced 8.1 million mt and 7.24 million mt in the first quarter of the current year.