factbox-production cuts by major global steel firms
Here is the timeline for steel companies to announce production cuts in recent weeks: January 12-
South Korea\'s POSCO (005490. KS)
No in the world.
Steel makers say it may have to expand production cuts for the first time this quarter. Jan 11 -
Japan New Japan Railway Corporation (5401. T)
The world\'s second-largest steelmaker said the company could further reduce production due to weak demand and pressure from automakers to cut prices. Dec 29 -
CHMFq, a steel company in northern Russia.
L, Russia\'s largest steel maker, said it had left a blast furnace idle at its Cherepovets steel plant.
# Blast furnace
1 Normal Production 1.
1 million tons of cast iron are produced every year.
The company said the move was in line with the previously announced layoffs. Dec 25 -
Japan JFE Steel, the world\'s third largest steel company
One unit of the largest steel manufacturer and JFE Holdings (5411. T)
Said it would cut steel production by 26% by October
Half of the first half of March 2.
The shutdown will result in a total output of 11 vehicles.
H2 increased from 5 million tons of h1 to 15 million tons. Dec 23 -
Thainox stainless steel PCL (INOX. BK)
Thailand\'s largest stainless steel producer says it plans to shut down for a month due to weak global demand. Dec 19 -ThyssenKrupp (TKAG. DE)
If demand remains weak, crude steel production may be cut from February.
In January, it will be decided to cut production from the usual 30,000 tons per day to 40,000 tons. Dec 18 -
Mechel, Russian steel manufacturer (MTL. N)
Said it plans to cut steel production by 20-
25% per cent in 2009. Dec 18 -
Posco said it will cut 200,000 tons in December and 370,000 tons in January.
Korean companies produce about 2.
Cut 75 million tons of crude steel per month, an average monthly reduction of about 10%, an annual reduction of 2%. Dec 9 -
Newcastle Steel Corporation (NUE. N)
In the fourth quarter, the company said, \"productivity fell sharply,\" while the average utilization rate of steel mills is expected to be just over 50%. Dec 5 -
Ukraine\'s Dneprovsky steel plant cut its crude steel production by 13% to 2.
0. 993 billion tons in January
November 2008 comparison 3.
2007 the same period 0. 437 billion. Dec 4 -
Aguelos alekipa, Peru\'s largest steel manufacturer (ARE. LM)(AREi. LM)
The company said it had stopped producing for a month and would improve the maintenance work planned. Dec 3 -Mexico’s third-
The largest steel producer in Mexico, Atters Horno de Mexico (AHMSA), is cutting 12,000 jobs and cutting production. Dec 3 -
Ukrainian steel maker azovagen said the company had suspended pig production from one of its five blast furnaces due to falling steel demand and cut steel production in JanuaryNovember by 7.
9% to 2007. Dec 2 -
American Steel Corporation (X. N)
The company said it would spare three factories in the coming weeks to accommodate the weakening demand for steel. Nov 26 -
SSAB, a professional steel producer (SSABa. ST)
The company said it would speed up a plan to shut down one of its blast furnaces for a one-month repair as part of a broader effort to reduce production as demand declined. Nov 25 -
The world\'s second-largest-
Steel producer Gerdau, Brazil (GGBR4. SA)(GGB. N)
Due to cooling demand and plant maintenance, production is expected to drop by one quarter in the last three months of 2008. Nov 25 -
China steel, Taiwan\'s largest steel producer (2002. TW)
The company said it plans to reduce production by about 10% next year through regular maintenance. Nov 25 -
Thysenk rup, one of the world\'s leading stainless steel producers, will extend the Christmas holiday on its largest stainless steel freezer
Rolling Equipment in Nirosta, Germany. Nov 25 -
Second in the world-
Largest steel company in Japan5401. T)
The company said it would double its planned production cut in October.
Due to a slowdown in demand, from 12% in the first half. Nov 20 -
Voestalpine, Austrian steel producer (VOES. VI)
The company said that steel production is expected to decrease by 3-due to slowing demand in the automotive industry-
5% to March 2009. Nov 20 -
The world\'s third JFE Steel Company
The biggest steel maker said it plans to cut production by 9. 6%, or 1.
5 million tons in October
Half of the first half of March 2 was in response to the decline in demand from automakers and other customers. Nov 14 -
Novolipetsk Steel in Russia (NLMK)(NLMKq. L)(NLMK. MM)
He said that after the global financial crisis, the company was idle two blast furnaces and reduced its planned investment plan. Nov 11 -U. S.
AK Steel (Steel manufacturer (AKS. N)
The company said that due to the impact of the global economic downturn on the demand for its automotive products, the company temporarily shelved some of its businesses in Ohio and Kentucky. Nov 10 -
SSAB, Swedish special steel producer (SSABa. ST)
Production at one of Sweden\'s top product sites has been cut and other cuts are being considered as it is working to cope with falling demand. Nov 7 -
Europe\'s second-largest steelmaker, Corus, has decided to extend the cut announced last month beyond December.
The company is owned by Tata Steel, India (TISC. BO)
October announced that due to a slowdown in demand, it plans to cut crude steel production by 20% to 1 million tons in the next three months. Nov 7 -JSW Steel Ltd (JSTL. BO)
India\'s third-largest steel producer says it will cut total steel production by 20% from November. Nov 6 -Salzgitter AG (SZGG. DE)
Production of flat steel and construction parts was cut by 30% in December and January. Nov 5 -
Ancelormittal. AS MTP.
The world\'s largest steelmaker, PA, has announced a temporary cut of 30%, compared with an initial cut of 15%, as it expects production to decline in the last quarter. Nov 4 -
Baosteel Group, China\'s largest steel maker, will cut production in December as the Group faces weak demand and delays reopening a blast furnace shut down due to maintenance. Oct 31 -
Statar Loren, Gujarat (WGSR. BO)
Cut the steel plate production target for fiscal 09 by 43%, and will not produce commercial grade steel plates for sale due to lower prices. Oct 30 -
Russian steel maker Evraz Group HK1q.
L due to the global financial crisis, production of domestic factories will be reduced by about one quarter from November. Oct 27 -
Pushan Steel Co. , Ltd.
BO has cut the production of galvanized steel by 20-
30% due to slowing demand.
Galvanized steel accounts for 25% of the company\'s sales. Oct. 23 -
Japanese steel Corporation (5401. T)
Second in the world-
The biggest steelmaker believes that production cuts began in November due to weak demand.
Steel orders fell 5.
4% in August of the first yearon-
Fell in 28 months. Oct. 13 -
UAE steel industry, the largest steel plant in the UAE, stopped production in the third week of October due to oversupply in the market, although the UAE\'s inventory is still more than 2 million tons. Oct. 10 -Severstal (CHMF. MM)
Cut production this month by 25-
There are 30% factories in Russia, Italy and the United States. S. Oct. 9 -
The company owns the largest steel plant in Ukraine. AS (MT. N)
Reduce steel output by 10. 5 percent to 5.
0. 471 billion tons. Oct. 9 -
Zaporozhiling, Ukraine\'s leading steelmaker, has reduced liquid steel production by 5. 1 percent to 3.
0. 205 billion tons. Oct. 8 -
Shougang Group, Hebei Iron and Steel Group, Anyang Iron and Steel, Shandong Iron and Steel, state-
China\'s state-owned enterprises, whose steel production is close to fifth, agreed to cut production by 10 to 20% due to falling steel prices. Oct. 7 -
Magento Gorsk Russia third
The biggest steelmaker cut steel production in October by at least 15% to 850,000 tons.