Steelmakers in Japan, the world's second-largest producer, will probably cut output 43 percent next quarter compared with a year earlier, as the recession slashes demand, the government said Friday.
Crude steel output for the April-June quarter will probably fall to 17.83 million tons, the Ministry of Economy, Trade and Industry said in a statement. Output is estimated at 17.68 million tons in the current quarter, METI said.