Steel Market Production Cuts – The Chinese province of Shandong is implementing a plan to remove about 23 mtpy of steel capacity by 2015. The plan calls for cuts of 700,000 tpy of ironmaking and 400,000 tpy of steelmaking capacity by the end of 2012 with additional reductions of 3 mtpy and 5.85 mtpy respectively in 2013.

Steel Market Production Cuts – Nucor will idle theBirminghamrebar mill over the weekend of October 27 and will resume production on October 30.

Steel Market Production Increases – Venezuelan steelmaker SIDOR plans to increase crude steel production from 1.85 mtpy to 4 mtpy next year.

Steel Market Production Increases – Kryvyi Rih, the Ukrainian subsidiary of ArcelorMittal, said that rebar output will be reduced by 10-15% to 235-245,000 tpy in  October.

Steel Market Production Cuts – The 1.8 mtpy pickling line at Tokyo Steel Manufacturing’s Tahara facility has been halted due to a fire, but the line was only operating at a run-rate of 120,000 tpy so the impact will be less severe.

Steel Market Production Cuts – Korean steelmaker Posco is following the lead of Dongbu and Hyundai with a planned HRC output reduction of 30,000 tonnes in October.

Sources: Steel Business Briefing, American Metal Market, SteelOrbis