TKS to cut production in Q2

TKS to cut production in Q2

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.