UPDATE 1-Sumitomo Metal to lift auto-use steel output

Newswire

(Recasts, adds details) TOKYO, Nov 30 (Reuters) - Japan's Sumitomo Metal Industries Ltd. said on Tuesday it will invest some 25 billion yen ($243 million) to boost annual output capacity of auto-use steel sheet by 30 percent to counter tight supply among the nation's auto makers. Rapid economic growth in China has stretched supplies worldwide, and Nissan Motor Co. said last week that it would temporarily suspend some production because it could not procure enough steel. Sumitomo, ...

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