It's reported that Japan's Nisshin Steel Holdings announced that it decided to cut it stainless steel production at its two subsidiaries Nisshin Steel and Nippon Metal Industry (NTK) from November, aiming to support the prices.
It's learned that the production cut will be larger than the 15% cut the firm said on November 12nd at its interim results announcement.
During April through September, Nissin Steel produced 290,000 tons of raw stainless steel. At the same time, NTK produced 120,000 tons.