Mitsubishi Materials Corp (5711.T) will cut copper production by 10 percent from February as demand slumps amid a severe economic downturn, the company said on Tuesday, joining two Japanese firms that have announced cuts.
Japan's top two copper smelters have already said they will cut output of the industrial metal, which finds use in a variety of applications from electronics to the power sector.
The company said it still had to consider details such as how long to maintain the production cuts, and might have to reconsider the size of the cuts after studying market conditions.
The company initially planned to produce about 142,000 tonnes of copper in the October-March period at its domestic smelters.
It said that it had produced 161,000 tonnes of copper in the April-September period.
In late March or early April, Japanese copper smelters usually announce production plans for the new business year that begins in April.
Pan Pacific Copper Co Ltd, Japan's top copper smelter, last month revised down its output for the six months to March by 5 percent from its initial plan.
Sumitomo Metal Mining Co Ltd (5713.T), the second-largest copper producer, has also said it plans a 7 percent reduction in the six months to March from its original plan. (Reporting by Miho Yoshikawa; Editing by Clarence Fernandez)
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