NSSMC plans more output cuts, before expectedrecovery

摘要

Japan's Nippon Steel & Sumitomo Metal Corp (NSSMC) intends to reduce crude steel production inthe current quarter by 690,000 t, compared with the year-ago period, to bring down inventories.The drop to 10.9 Mt is in line with the 6.1% fall forecast by the industry ministry in Japan's total crudesteel output for fiscal Q2, which would take production to the lowest level for the quarter in six years,Reuters reported. Demand for cars and housing is still suffering from a sales tax increase in April2014.