28
Jul
01:00
Kobe Steel profit falls, but not for steel
Japan’s Kobe Steel saw a 48.2% year-on-year drop in net income in the first quarter of its financial year (April-June) to JPY 11.88 billion ($96 million). Its steel division saw a significant improvement in its results however as it benefited from falling iron ore prices and the weak Japanese Yen, Kallanish notes.
Kobe’s steel sales during the quarter were roughly flat y-o-y at JPY 189.1 billion, despite a JPY 2,000/tonne drop in average sales pr…
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Anonymous
Very good overview of the weekly steel market.
Anonymous