Osaka Steel announced on Friday the firm’s Sakai works expands the output reduction rate for angle and channel steel to 60% on and after 27 July from current 50% compared with the capacity. The works stops operation of a steel making plant and a rolling mill for seasonal repair in summer on 27 July. The works’ operation rate is record low. The demand for building construction maintains stagnant. On the other hand, ferrous scrap market price is rising. The firm’s main works, Sakai works has reduced the output just as much as accepted order volume.
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Japan Steel Scrap Composite Prices (Sangyo Press)
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