JMB reported that Tokyo Steel Manufacturing studies to expand the production cut to 50% in January to March 2009 period from same period of 2008 as compared with original plan of 20% to 30% cut.
Tokyo Steel sees the steel sales volume decreases by around 30% now from a year earlier level and expects the demand decreases more in January to March period. It decided to stop new capital expenditure under slow demand worldwide while the firm keeps ongoing construction of new plant in Aichi.