JFE Steel Corporation announced today that its West Japan Works’ Kurashiki Steelworks will begin preparations to bank (stop and suspend in a state ready for restart) its No. 3 blast furnace by mid-May, a move designed to achieve more efficient operations in light of the current market.

JFE Steel has been adjusting its steel production operations in response to the recent decline in domestic and overseas steel demand. This new step is being taken as the business environment is expected to remain challenging for the foreseeable future.

As part of an ongoing initiative to shift from quantity to quality operations, JFE Steel is steadily working toward a leaner but more robust production system. Going forward, the company will continue to closely monitor steel-demand trends and remain ready to respond quickly and flexibly to any changes.

About JFE Steel Corporation

JFE Steel Corporation, one of the world’s leading integrated steel producers, was established through the consolidation of NKK Corporation and Kawasaki Steel Corporation in 2003. The company operates several steelworks in Japan and numerous branch offices and affiliates throughout the world. Under the corporate vision of “contributing to society with the world’s most innovative technology,” JFE Steel leverages world-class technologies and know-how to produce a wide range of products. The company reported consolidated sales of 3,716 billion yen and consolidated crude steel output of 24.80 million tons in the fiscal year ended March 2023.

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