Corus to take decisive action to mitigate the effects of softening near-term steel demand

Tata Steel Group unit Corus is to take decisive action to mitigate the effects of the softening near-term steel demand outlook. Corus has decided to reduce its crude steel production over the next three months by up to 20%, i.e. by around 1 million metric tonnes. The decision is aimed at aligning steel production with demand, which is now affected by the consequences of the global financial crisis.