JFE Steel Revises Down Annual Crude Steel Output Plan to 29MT

JFE Steel’s latest crude steel output plan is 29 million tonnes for fiscal 2010 ending in March 2011 on non-consolidated base. The firm revised down the figure by 1 million tonnes from the previously planned 30 million tonnes.

The firm’s crude steel production was 14.35 million tonnes in the first half 6 months, lower than expected 14.8 million tonnes. The firm kept the output volume as much as actual demand to keep the price level when Asian steel market turned weak. The export sales decreased as a result, explained Vice President of JFE Holdings, Yoshio Ishikawa. The 3-month production was 7.09 million tonnes in July-September, decreasing from 7.26 million tonnes in April-June.

JFE Steel now plans crude steel production at 14.65 million tonnes for the second half 6 months, revised down from previously planned 15.2 million tonnes. The production is forecasted to increase in January-March compared with October-December. Steel demand is expected to improve in January-March since Chinese steel makers recently shifted to output reductions from oversupply conditions.