NSM cuts production in 2005

NSM cuts production in 2005

Thailand's major hot rolled coil producer, Nakornthai Strip Mill (NSM), decided to cut its hot rolled steel annual production target by one-third because of the slow market conditions and lower steel prices. NSM had been eyeing a target of 1.2 million metric tons, but decided instead to aim for 800'000 metric tons this year after prices of hot rolled products dipped more than 25 percent compared to 2004. In the first six months of 2005, the company had a gross profit margin of 13.02 percent and a net profit margin of 1.81 percent.