Japan: Ironmakers will withdraw from Chinese automotive steel production plants

 Japan: Ironmakers will withdraw from Chinese automotive steel production plants

According to Japanese media reports on December 26, Nippon Steel finalized its policy of withdrawing its subsidiary's production at the automotive special steel plant in Zhejiang Province, China. The plant was set up in 2014 and previously sought to supply local Japanese auto parts makers, but progress in developing demand was not smooth. For Japan Iron & Steel, revitalizing its low-performance ironmaking business is a top priority and will speed up the adjustment of loss-making businesses. (Source: Sina Finance Comprehensive)