01
Feb
10:46
NSSMC profits slump in December quarter
Japan’s Nippon Steel and Sumitomo Metal Corporation (NSSMC) saw its ordinary profit slump -46.1% year-on-year in the December quarter, its financial Q3, to JPY 185.01 billion ($1.53bn). Falling domestic demand, competition from China and plummeting global steel prices also forced it to cut its profit forecasts, Kallanish notes.
On a consolidated basis, NSSMC’s revenues were down -11.1% to JPY 3.72 trillion. Steel revenues were also down -11…
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Anonymous
Very good overview of the weekly steel market.
Anonymous