German steel producer ThyssenKrupp Stahl (TKS) announced that it would reduce steel
production by 500'000 tons in the second quarter of 2005 in order to protect prices in the market.
The
production cut will affect hot dip
galvanized, electrolytic and organic
coated materials.
As reported by SteelOrbis at the end of March, TKS announced that it would reduce
galvanized sheet
production by 100'000 tons in the second quarter of 2005 due to lower demand.
TKS also stated that rising raw material costs would compel the company to increase its prices.