26
Apr
12:32
NSSMC profits rise despite lower shipments
Japan’s Nippon Steel and Sumitomo Metal Corporation (NSSMC) saw lower shipments and higher steel prices in its financial 2017. Combined with cost cutting that left the steelmaker with higher profits, Kallanish notes.
Over the financial year NSSMC shipped 37.79 million tonnes of steel, down -5% y-o-y, while average selling prices increased 16.7% to JPY 84,700/t ($776/t). That boosted the company’s revenues 22.4% to JPY 5.67 trillion, and net profit by…
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Anonymous
Very good overview of the weekly steel market.
Anonymous