Japan Major 5 Steels’ Raw Steel Output to Drop by 10 million tonnes in F2008

Japanese major 5 steel makers’ raw steel production will decrease by around 10 million tonnes to around 80 million tonnes in fiscal 2008 ending March 2009 from fiscal 2007. They plan major production cut to reduce overstock under very slow steel demand. The production is only 15 million tonnes in January-March, which represents annual 60 million tonnes level.

Their production decreases by 10 million tonnes in second half of fiscal 2008 from 45.32 million tonnes in the first half.

Nippon Steel reduces the production by 4.2 million tonnes to 12.3 million tonnes in the second half from the first half. The production is 5 million tonnes in January-March compared with 7.37 million tonnes in October-December.

JFE Steel reduces the production by 4 million tonnes to 11.51 million tonnes in the second half year from the first half. The production decreases to 5.03 million tonnes in January-March from 6.48 million tonnes in October-December.

Sumitomo Metal Industries reduces the production by around 1 million tonnes to 6 million tonnes in the second half from the first half. The production decreases by 1.05 million tonnes to 3.13 million tonnes for Kobe Steel and by 300,000 tonnes to 1.74 million tonnes for Nisshin Steel in the second half from the first half.