14
Nov
04:33
Three Japanese steelmakers cut profit forecasts
Three Japanese steelmakers, Nippon Steel, Kobe Steel and JFE, have now cut their profit forecasts for the financial year ending March 2020, Kallanish notes.
Nippon Steel slashed its profit expectation by -33% year-on-year to JPY 100 billion ($917 million). During the first two quarters, its profit declined by -54% y-o-y. Its vice president said shrinking demand for steel products, rising raw materials costs and an export slowdown have ma…
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Anonymous
Very good overview of the weekly steel market.
Anonymous