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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: orkrious who wrote (31097)	4/23/2005 1:51:29 PM
From: Haim R. Branisteanu	Read Replies (2) \| Respond to of 110194

Sloing Down - ThyssenKrupp to Cut Steel Production by 10% to Maintain Prices April 22 (Bloomberg) -- ThyssenKrupp AG, Europe's fourth- largest steelmaker, plans to cut steel production by 10 percent to maintain prices at current levels, as imports and inventories of the metal increased since the beginning of the year. Higher customers inventories and imports, mainly to southern Europe, put pressure on prices, the Duisburg, Germany-based steel company said in a faxed statement. The stock fell as much as 21 cents, or 1.4 percent, to 14.52 euros and was trading at 14.68 euros at 3:50 p.m. in Frankfurt. Salzgitter AG, ThyssenKrupp's smaller German competitor, fell as much as 47 cents, or 2.9, to 15.81 euros. ThyssenKrupp posted a record profit in the 2004 fiscal year, when it raised steel prices four times.