Nippon Steel announced that they will decrease the production as well as export volume of nickel based stainless steel thin plate. The company made the decision due to the increasing stainless steel production from China. Because China’s production volume has increased they have a bigger market share and this has caused a drop demand from the Japanese company. They started reducing production volumes in February this year. The output has been reduced by 35 percent since then. The export volume is down 10 percent from February until now. It is estimated that China will pass Japan within the next two years to join America as the world’s leading stainless steel producing nations. (Nov. 18)