Reportedly, BlueScope Steel planned to cut its steel production capacity including output of cold rolled, metallic coated and painted sheet at its Western Port works plant.
The company said that its coated steel production is likely to reduce with a quarter this year.
Meanwhile, the company also shut down its hot strip mill at its Western Port works plant and another blast furnaces at Port Kembla plant.
However, BlueScope estimates it will cost approximately US$18 million to make the adjustment and it expects to return within a year period. Currently, Western Port has annual cold rolling production to 1 million tons, painted steel capacity of 330,000 tons, and metal coating capacity of 600,000 tons respectively.
