Steel Market Production Cuts – Malaysian mills have cut their rebar production by 25-40% of running capacity in response to poor demand at home.

Steel Market Production Cuts – Utah-based SME Steel has begun layoffs and will completely halt operations at its Pocatello steel plant by March 31st, 2012 due to lost contracts.

Steel Market Production Cuts – Steel giant ArcelorMittal Brazil may not resume its US$1.2bn expansion work at longs unit Monlevade this year that would increase capacity to 2.4 mtpy of crude steel from the current 1.2 mtpy.  The steelmaker has also delayed two other longs expansion projects – the US$300m expansion of the Espírito Santo-based Cariacia rebar and sections plant and the Juiz de Fora longs plant in Minas Gerais – that would more than double its output to 2.2 mtpy, due to challenging market conditions.

Steel Market Production Increases – Slovakian mini rebar mill Slovakia Steel Mills (SSM) will launch full production after the company completes tests at its wire rod mill by the second quarter of 2012.

Steel Market Production Increases – Korea’s leading special steel bar producer, SeAH Besteel, is installing a new continuous casting machine of 700,000 tpy for billet that is scheduled to start this October at its main works in Gunsan, southwest of Seoul.

Sources: American Metal Market, Steel Guru, Steel Business Briefing