NSSC Cuts Ni Stainless Output by 25% in September

Nippon Steel & Sumikin Stainless Steel Corporation (NSSC) reduces the nickel series stainless output by 25% for steel making in Hikari Works in September over the previous month. The firm intended to decrease the output by 20% in September in obligingly plan in August. The demand of the nickel series cold rolled stainless sheet for dealers keeps low due to decreased nickel price. NSSC said the firm expanded the reduction of the output in a bet that the demand becomes slow in the last half of fiscal 2007 at the ended of march2008.The firm will continue to reduce the output of nickel series cold rolled stainless sheet by 40% compared with the firm’s production capacity. Japanese dealers’ inventory of hot rolled stainless steel plate increased at the ended of July from last month, and increased for 8 consecutive months and became the highest volume. The firm is decreasing the output of the plate by 10% compared with the capacity. The firm will expand the range of the reduction and will adjust the supply and demand.

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