JFE Steel to cut plate output by a further 20% in Q4
JFE Steel will further reduce its plate output in the October-December quarter amid a slowdown in demand.
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“We already cut production of all types of plate at three of our plants – Keihin, Kurashiki and Fukuyama – in the April-September period but have decided to strengthen those cuts by an additional 20% in the October-December period”, a company official told Steel First.
He would not divulge how much of output that JFE Steel had cut in April-September.
The official said that there has been a marked slowdown in shipments of plate, both for the domestic and export markets, making it increasingly critical to bring stockpile levels down to suitable levels.
He added that it remains unclear when the company will be in a position to increase its plate production.
He would not comment on the company’s production plans for H-beam. It has cut output in the current quarter by an additional 20% beyond the 10% cut it had put in place in the previous quarter.
Nippon Steel has already said that it will cut its H-beam output further in October by shutting down its Kimitsu plant down for a 10-day repair.
It also said that output at its Sakai works will be strictly maintained according to the supply-demand situation.