29
Oct
09:48
NSSMC cuts profit forecasts
Japan’s Nippon Steel and Sumitomo Metal Corporation (NSSMC) has cut its profit outlook for the fiscal year ending March 2016. The company blamed the weak state of the global steel market and the impact of the demand slowdown in China in particular, Kallanish notes.
The company now expects profit attributable to shareholders to be JPY 180 billion ($1.5 billion) in fiscal 2016, down by JPY 80 billion from previous forecasts. The outlook for ordinar…
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Anonymous
Very good overview of the weekly steel market.
Anonymous