Japan’s steel major – Nippon Steel today said it is going to halt one more blast furnace next month in response to the dull steel demand, primarily from automobile and construction sector, as an impact of pandemic.
The banking of the East Nippon Works’ Kimitsu area will be carried out from the middle of May’20, as soon as preparations are completed, the company said in its release.
As per reports, this blast furnace accounts for about 7% share in company’s output.
Earlier in this month, Nippon Steel announced temporary suspension of its two blast furnaces, one at Kansai works’ Wayakama and other at East Nippon Works’ Kashima area.
Nippon Steel is world’s 3rd largest steel maker. As per worldsteel, its output was recorded at 49.22 MnT in CY18.
Leave a Reply