According to report, Korean flat steelmaker Dongbu Steel said it would cut its hot rolled coil (HRC) output in December to lower down the stocks before the year end. The company said it would cut about 20,000 tons during the month. The main reason for output cut is for inventory adjustment as well as lower costs on electricity tariffs and high scrap prices. Its HRC production may reach full capacity of 2.5 million tons even it did not say the target production this month. Another steelmaker Hyundai Steel also said it will cut the HRC output by more than 10,000 tons at its min-mill as it sees the demand is slow this month.
Source:
http://www.yieh.com/2.2.01.01stainlesssteelnews.aspx?no=67600&division=A2
