The Nikkei business daily reported that Nippon Steel Corporation and JFE Steel Corporation plan to curb domestic crude steel production due to waning exports to China, which accounts for nearly half of global steel demand.

As per report, Nippon Steel will cut output by about 5% in the quarter ending in September 2010, while JFE may cut output by between 300,000 tonnes and 500,000 tonnes during the same period.

(Sourced from Nikkei)