Japanese steelmaker JFE Steel has seen rising inventories on weak demand from domestic users after the last month earthquake disaster and it may plan to cut production first. Reuters reported.
Mr. Eiji Hayashida, also the chairman of the Japan Iron and Steel Federation (JISF) said that the impacts from the quake was smaller than expectation last month; however, the shutdowns from car and parts factories may influence more on steelmakers’ production after May.
It’s known that Nippon Steel, JFE Steel and Sumitomo Metal temporarily suspended the operations for 7 blast furnaces in east Japan after the quake.
( Source: www.yieh.com )