Steel makers up cost-cutting as demand tails off

Jul 9, 2013

Steel makers up cost-cutting as demand tails off

Major Japanese steel makers are stepping up their cost-cutting, amid stalled growth in domestic demand and intensifying international competition. Nippon Steel & Sumitomo Metal Corp. plans to close one of the three blast furnaces at its ironworks in Kimitsu, Chiba Prefecture, by fiscal 2015. ...