Roskill: Japanese steel industry is poised for a major downsizing in the years to come Nippon Steel plans to suspend blast furnace operations at its Ibaraki Prefecture plant, near Tokyo, according to the Nikkei—the latest example of the group’s efforts to deal with overcapacity in Japan. With an earlier decision to halt three other blast furnaces, the steelmaker will cut its domestic capacity by 20%. The production freeze, which is to take place within several years, is planned for one of two blast furnaces at the Ibaraki plant. By simple calculation, the blast furnace accounts for about 10% of the group’s total production capacity. The decision follows an earlier one to shut down three furnaces elsewhere, including at a Hiroshima plant.