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Nippon Steel to slash 20% of domestic capacity

Overcapacity and government's carbon neutrality push put blast furnace on ice

As Nippon Steel consolidates its production plants, about 3,000 employees are likely to be relocated. (Source photos by Hirofumi Yamamoto and Kyodo) 

TOKYO -- Nippon Steel plans to freeze production at a blast furnace at its plant in Ibaraki Prefecture, near Tokyo, Nikkei has learned, the latest example of its efforts to deal with overcapacity in Japan.

With an earlier decision to halt three other blast furnaces, the steelmaker will cut its domestic capacity by 20%.

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