Japanese steelmaker Nippon Steel Corporation on April 7 announced that it has been lowering the tapping ratio of its blast furnaces and taking other measures in order to reduce its overall steel output volume. The company has also decided to impose some other measures due to the sharp decline in steel demand.
In a press release, the company said that it will temporarily stop its blast furnace No. 1 at the East Nippon Works’ Kashima area as of the middle of April and blast furnace No. 1 at the Kansai Works’ Wakayama area as of late April.
The company will also adjust or suspend production of some coke ovens at the East Nippon Works’ Kashima area and Kimitsu area, and at the Kansai Works’ Wakayama area, in addition to the substantial operating rate reduction which has already been executed.
As reported by SteelOrbis previously, Nippon Steel and its local labor union which represents 30,000 employees continue to hold negotiations to give employees one-day leave twice a month. If the agreement is concluded, the company will put the plan into action this month.