Bloomberg News

Nippon Steel to Cut Output on Economic Slowdown, Thai Flooding

November 17, 2011

Nov. 17 (Bloomberg) -- Nippon Steel Corp., Japan’s largest steelmaker, is halting a blast furnace ahead of schedule because it forecast demand will be curbed by 300,000 metric tons this quarter due to the global economic slowdown and flooding in Thailand.

Nippon Steel plans to reduce crude steel output by 250,000 tons by moving a plan to halt the No. 2 blast furnace at its Kimitsu steel plant for maintenance works to Dec. 1 from mid- January as originally planned, Masato Suzuki, a spokesman for the Tokyo-based company, said today by telephone. The maintenance works will be completed in mid-May.

--Editors: Baldave Singh, Andrew Hobbs

To contact the reporter on this story: Masumi Suga in Tokyo at msuga@bloomberg.net

To contact the editor responsible for this story: Rebecca Keenan at rkeenan5@bloomberg.net


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