factbox - production cuts by major global steel firms
Here is the timeline for steel companies to announce production cuts in recent months: January 23-
The world\'s second-largest Japanese Steel Company
The biggest steel maker said it expects to cut production by 4 million to 4.
5 million tons in October
March 2 was half the business year, a record high, an increase from the previously announced plan to cut 2 million tons. Jan 12 -
The world\'s No. 1 POSCO
Steel makers say it may have to expand production cuts for the first time this quarter. Dec 29 -
Russia\'s largest steel maker, severkle, said the company had already left a blast furnace idle at its cherpovitz 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
A division of the largest steelmakers and JFE Holdings said it would cut steel production by 26% in 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 PCL, Thailand\'s largest Stainless steel producer, said it plans to stop production for a month due to weak global demand. Dec 19 -
If demand remains weak, thysenk rup may cut crude steel production starting in February.
In January, it will be decided to cut production from the usual 30,000 tons per day to 40,000 tons. Dec 18 -
Russian steel maker Mechel says it plans to cut 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 -
Nucor Corp. , a steel maker, said the company had \"significantly reduced productivity\" in the fourth quarter, 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 -
Aceros Arequipa, Peru\'s largest steel maker, said it had stopped production for a month and would improve 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 -
S. Steel said it would spare three factories in the next few weeks to adapt to weakening steel demand. Nov 26 -
SSAB, a professional steelmaker, 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 drops. Nov 25 -
The world\'s second-largest-
Brazil\'s Gerdau steel producer expects production to drop by one quarter in the last three months of 2008 due to plant cooling demand and maintenance. Nov 25 -
China steel, Taiwan\'s largest steel maker, said it plans to reduce production by about 10% in regular maintenance next year. 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-
Japan Steel, the biggest steelmaker, said it would double production cuts by October
Due to a slowdown in demand, from 12% in the first half. Nov 20 -
Austrian steelmaker Voestalpine said 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)
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.
Steel maker AK Steel said part of the company\'s operations in Ohio and Kentucky were temporarily idle because of the impact of the global economic downturn on the demand for its automotive products. Nov 10 -
SSAB, a Swedish professional steelmaker, has cut production at one of Sweden\'s top product factories and is considering other cuts in the face of low demand. Nov 7 -
Europe\'s second-largest steelmaker, Corus, has decided to extend the cut announced last month beyond December.
Owned by Tata Steel, India, the company announced on October that it plans to cut crude steel production by 20% to 1 million tons in the next three months due to slowing demand. Nov 7 -
JSW Steel, India\'s third-largest steel producer, said it would cut total steel production by 20% from November. Nov 6 -
Salzgitter AG will cut flat steel and construction production by 30% in December and January. Nov 5 -
ArcelorMittal, the world\'s largest steelmaker, announced a temporary 30% cut, compared with an initial 15% cut, as the company expects production in the final quarterNov 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 -
Welspun Gujarat Stahl Rohren 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 -
Due to the global financial crisis, Russian steel maker Evraz Group will cut production of domestic steel mills for about a quarter from November. Oct 27 -
Bushan Steel Co. , Ltd. has cut the production of galvanized steel by 20-
30% due to slowing demand.
Galvanized steel accounts for 25% of the company\'s sales. October 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. October 10 -
The Northern Russian steel company\'s charcoal forest and its production this month-
There are 30% factories in Russia, Italy and October 9.
Ukraine\'s largest steel plant, owned by Arcelor Mittal, has reduced steel production by 10. 5 percent to 5.
0. 471 billion tons. October 9 -
Zaporozhiling, Ukraine\'s leading steelmaker, has reduced liquid steel production by 5. 1 percent to 3.
0. 205 billion tons. October 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. October 7 -
Magento Gorsk Russia third
The biggest steelmaker cut steel production in October by at least 15% to 850,000 tons.