Nippon Steel to shut 2 furnaces as Covid-19 reduced demand sharply

SHANGHAI, Apr 8 (SMM) – Nippon Steel Corp, Japan's biggest steelmaker, said Tuesday that it would temporarily shut two blast furnaces in eastern and western Japan later this month, as demand is slumping amid the coronavirus pandemic outbreak.

The No. 1 blast furnace (5,370m³) at the Kashima works in Ibaraki Prefecture will be suspended in mid-April and the No. 1 furnace (3,700m³) at the Wakayama works in Wakayama Prefecture later the same month. That is expected to affect demand for iron ore by about 33,000 mt per day.

It remains uncertain when the two furnaces would be resumed.