As a further sign of Japan's seriousness in the cause of steel industry re-structuring, Japan's Ministry of Economy, Trade and Industry (METI) played a central part in the meeting called by the OECD Steel Committee in Paris just before Christmas. The METI delegation promised that 28m tpy of Japanese steel production capacity would be de-commissioned over the next three to four years. This was the highest figure offered by any national delegation at the meeting, but it was not quite as bold as it looked. The officials did not identify the mills selected for closure, nor did they suggest a clear timetable, and the reductions were calculated on a rather high estimate of current capacity. This METI sets at 145.3m tpy, although Japan has not produced more than 110.400m tonnes of crude steel in any one year.Engineers reckon that at least 20m tpy of capacity o METI's list is all but inoperable, and that perhaps 6m tpy of the capacity targeted for closure will amount to a real reduction in output capability. Even capacity that seems unequivocally destined for closure can take a long time to close.
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