Sumitomo Metal Company is the top most nickel producer and it's also second largest copper smelter and this mining company has planned to reduce the production of Nickel by 7.8% in this financial year 2009 due to plunge in demand for the steel makers.

In a statement it specified that the Tokyo based company advanced nickel output is sure to drop to 33,200 metric tons in the year started April 1 from the previous fiscal year's estimated return is of 36,000 tons. This company is also gonna reduce ferronickel production to 16,800 tons from the previous year's 22,400 tons. But there will be an increase in copper production i.e. it'll produce 401,000 tons up from 394,000 tons from the previous year!