Japanese steel giants: digestive surplus to China and South Korea steel to 10 years

According to foreign media reports, Japan's largest steelmaker, Nippon steel and sumitomo metal industries, which is the third largest mergers & other Nippon steel live gold & throughout; October 1 to 1 anniversary. This is in the fight against competition from China and South Korea's & other; Century big mergers & throughout; , in an attempt to cut costs, such as integrated effect. Abe, after the government's economic policy implementation in demand led by the situation improved, but the overproduction of steel prices in China the situation is still grim. The overall environment of the Asian easy steel prices fell. Excessive production of China's domestic market in China's steel mills could not digest the residual steel exports. Nippon steel live gold chairman shoji muneoka thinks, & other; To digest the China and South Korea the overproduction of issues that need to be 10 years & throughout; , consider through the integration to improve productivity. In March 2013, the company announced the shutdown kashima steel ( Ibaraki kashima city) 4 in steel mills such as competitive low blast furnace and production equipment. Surplus equipment will improve the operation rate, improve the production efficiency, as soon as possible to ensure that the international competitiveness. Nomura securities analyst Matsumoto yu department must the merger saying: & other; Under the external factors such as economic environment better, have a good start. Cost-cutting measures such as consolidation effect has been revealed. ”