Japan: JFE Steel to Idle Two of its Blast Furnaces on Sluggish Demand

Japan's second-biggest steel manufacturer is planning to temporarily halt its two of its blast furnaces in western Japan amid poor demand in its overseas and domestic market due to COVID-19.

The producer will suspend the operations of its BF (Blast Furnace) at Kurashiki towards April end and another BF in Fukuyama at the end of June, which may trim the output capacity by 25% or 7 MnTpa. However, the company has made provisions to restart these furnaces at a short notice.

Nation's crude steel output expected to fall in Apr-Jun quarter- Japan's crude steel output is forecast to fall 25.9% in the April-June quarter from a year earlier and exports are forecast to fall 21.4% year-on-year the Ministry of Economy, Trade, and Industry said on Thursday.