JSW Steel may shut plant if situation does not improve
JSW Steel, which has scaled down steel production at its key plant in southern India after abrupt disruption of iron ore supplies from state-run miner NMDC, may have to shut the plant completely if the situation does not improve, Vice-Chairman Sajjan Jindal told reporters.
Reuters reported that key Japanese steelmakers stopped production at some plants as the country imposed power cuts to cope with the devastation brought by a massive earthquake and tsunami, although analysts say overcapacity elsewhere may curb any impact on steel prices.