Nippon Steel Corporation, the largest steelmaker in Japan said that it will temporarily halt a blast furnace in Kimitsu in eastern Japan to cope with the slumping demand amid the coronavirus outbreak.
The decision comes following its recent decision to shut two blast furnaces. The company’s latest move comes after the Japanese government last Thursday extended its state of emergency due to the pandemic from seven regions to the entire country until May 6.
The company in early April announced it would lower output at its 5,370 cu m No. 1 blast furnace at the Kashima area of its East Nippon Works on April 16 and the 3,700 cu m No. 1 blast furnace at its Kansai Works in Wakayama in late April, owing to a sharp drop in steel demand.
Nippon Steel, the world’s third-largest steelmaker earlier said that shutting two blast furnaces by the end of this month will result in cutting about a tenth of its capacity.
Source: Nippon Steel
