Jun. 03, 2022
Nippon Steel Corporation
The global steel demand is expected to go on an extended, long-term upward trend, due to economies recovering from the pandemic and economic growth in emerging countries.
Meanwhile, both global and domestic supply chains have generally been seeing disruptions due to the ongoing Russia-Ukraine situation and the lockdown of major cities in China for preventing the spread of coronavirus. As a result, the steel demand at the moment is decreasing.
Nippon Steel has been relining the No.3 Blast Furnace at Nagoya Works, which was scheduled from January to June 2022, and been deliberating the optimal time to resume operations. However, we have decided to postpone the start of operations of the No.3 Blast Furnace, under our recognition that the recovery of the steel demand is being delayed.
We will continue to respond to changes in global and domestic steel demand, and will implement prompt and appropriate manufacturing.