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Nippon Steel idles 30% capacity via furnace banking

Nippon Steel, Japan’s largest integrated mill, has suspended 30% of its molten iron capacity by having halted some of its blast furnaces as planned, according to a company official on July 22.
In total, Nippon Steel idled six of its 15 blast furnaces or 32% of all the furnaces’ inner volume capacity over February until late July, mainly to trim its steel output in response to the decline in steel demand because of the Sino-U.S. trade friction and later the negative impact of the COVID-19, according

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