National broadcaster NHK reported that Sumitomo Metal Industries Limited plans to nearly double its crude steel output cuts in the second half of this fiscal year amid the slump in demand from auto makers and other industries.

As per report, Sumitomo now plans to cut output by 1 million tonnes, up sharply from its initial plans for a cut of 600,000 tonnes.

The report comes after Nippon Steel Corporation said late last week that it will cut crude steel production this fiscal year by the largest amount in the firm"s history.