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Nippon Steel to lift capacity engagement to 80% in Oct-Mar

Nippon Steel, Japan’s largest integrated mill, plans to lift the capacity utilization of its steelmaking to 80% over the second half (October 2020 – March 2021) of the fiscal 2020, from the 60-70% in the first half in response to better domestic demand mainly from the auto sector, the company announced on November 6.
The company, thus, has raised its crude steel output target over FY20 (April 2020-March 2021) to 37.2 million tonnes on consolidated basis, or 2.5% higher than the original projection on August 4 but still about 21% lower on year, according to the release. “The recovery in demand from the domestic auto sector has been faster than

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