Aichi Steel Increases Crude Steel Output to 60% Level in July

Aichi Steel, Japanese major special steel maker will increase crude steel output to over 60% in July compared with July 2007 due to the recovery of Toyota Motors’ car output.

The crud steel output decreased to 30% in January-March from the same period of last year duet o worldwide recession. The crude steel output rebounded in March, and is increasing since April. Toyota Motors completed the inventory adjustment while is increasing the output of mainly new Prius which is hybrid car.

Aichi Steel plans to output the crude steel at 770,000 tonnes in fiscal 2009 at ended March 2010. The target volume represents a decrease of 20% from fiscal 2008. The firm’s shipment for special steel products is low for machine makers yet. The shipment for stainless steel products is taking time for the recovery. However, the firm’s business performance keeps on schedule. The firm will increase the crude steel output step by step.