Steel Industry

Steel Producers Cut Production

VIVAnews - The impact of the global economic crisis over steel industry is indeed quite serious. Between January and February 2009, steel production has been cut back. 

Executive Director of the Indonesian Iron and Steel Industry Association (IISIA), Hidayat Triseputro, stated that this situation is occurring due to a decline in the demand for steel. The global crisis has caused the number of projects in all countries to decrease and forced them to cut down production in response to the sharp decrease in demand.

Nippon Steel is one example. It is planning to cut production from January to March 2009.

As reported by The Text Report of 2 February 2009 edition, the period was a continuation of production cut in the October - December 2008 period amounting to one million tons. It is estimated that production cut between January and March 2009 will reach 3.2 million tons.

A week after Nippon Steel announced the production cut, it stated its intention to temporarily shut down a factory in Kimitsu, Japan.

In addition, Posco had also reportedly decided to increase production cut. In February 2009, production cut will be around 200,000 tons.

Last year, Posco had announced its plan to cut December production by 200,000 tons, and January 370,000 tons. Posco decided to reduce steel production in line with market conditions and the company's stock. The production cut in February is estimated to hit 770,000 tons.

Terungkap, Alasan Rizky Irmansyah Sukses Curi Perhatian Nikita Mirzani


Translated by: Bonardo Maulana Wahono

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29 Maret 2024