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PrintChina Securities Journal, citing sources close to the situation, reported that Baosteel Group will cut output in December by delaying reopening a blast furnace that was shut for maintenance, as it faces weak demand.
The blast furnace produces about 5 million tonnes of pig iron a year. The initial maintenance shutdown was expected to cut about 1 million tonnes from the company's planned crude steel output for 2008.
The newspaper quoted the sources as saying that the company in December is also likely to shut its Corex plant, which produces 1.5 million tonnes of pig iron annually and its medium plate production line.
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