JFE Steel Eases Crude Steel Output Reduction for Jul-Sep

JFE Steel’s non-consolidated crude steel output is estimated to become approximately 6.5 million tonnes for July-September 2009, lower by 16.5% than the corresponding period of 2008. The production was 5.12 million tonnes for April-June, lower by 33.6% year-to-year.

The firm continued wide output reduction along global demand decline for steel products since economy deterioration. However, the firm eases output reduction for July-September when some manufacturing industries such as automakers finished inventory adjustment and offshore steel market turned upward.

JFE Steel’s steel products shipment was 4.34 million tonnes for April-June, year-to-year minus by 37.3%, while the shipment is expected to become 6 million tonnes for July-September, year-to-year minus by 16.9%.

The firm estimates the non-consolidated crude steel production at approximately 13 million tonnes for the second half of fiscal 2009 (Oct09-Mar10).