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Nippon Steel & Sumitomo Metal aims for higher output in 2019-20

Steel News - Published on Mon, 25 Feb 2019

Image Source: Nippon Steel
Reuters reported that Nippon Steel & Sumitomo Metal aims to boost crude steel output to nearly 11 million tonnes a quarter in the year from April 1, after system troubles cut production and its profit outlook this year. Nippon Steel Executive Vice President Katsuhiro Miyamoto told Reuters “We should be able to produce 11 million tonnes of crude steel a quarter, but actual output has been falling short of it in the past few years. We plan to increase our crude steel production next year from this year, which will be a key factor to grow our profits.”

He said “Technical troubles at its mills, including Oita and Wakayama in western Japan, were due to mixed factors, lower quality of raw materials, ageing facilities, and heavier strain on its systems in processing harder and more advanced products such as high tensile steels. To fix the problems, Nippon Steel has conducted routine maintenance more often and started operating a new blast furnace in Wakayama this month, replacing a 31-year-old blast furnace, which had been the world’s oldest blast furnace in operation.”

The average of estimated quarterly output for the financial year ending on March 31 comes in at 10.3 million tonnes.

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Posted By : Joykumar Irom on Mon, 25 Feb 2019
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