TOKYO, May 25 (Reuters) - Japan’s crude steel output fell 23.5% in April from a year earlier to an 11-year low of 6.62 million tonnes, as weaker demand amid the coronavirus crisis forced steelmakers to trim output, the Japan Iron and Steel said on Friday.
The figure is the lowest monthly output since May 2009, when a global financial crisis dampened demand, a researcher said. The 23.5% decline was the biggest monthly slide since July 2009, the researcher added.
Output, which is not seasonally adjusted, dropped 16.8% from March.
Japan’s top two steelmakers, Nippon Steel and JFE Steel, owned by JFE Holdings, temporarily shut a total of three blast furnaces in April to cope with slumping demand.
The two companies plan to suspend four more blast furnaces in June and July, cutting a combined total of 25%-30% from their capacity.
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