Nippon Steel’s stock price reached 500 yen per share temporally on Tuesday, which was the first time since closing price at 500 yen on March 19, 1991. The trading volume was the largest at 96.19 million shares in Tokyo Stock Exchange on the day when the market expects higher outlook for half year results, which the firm announces on September 7, along with potential worldwide industry consolidation. The share prices also increased for other Japanese steel makers including JFE Holdings, Sumitomo Metal Industries and Kobe Steel. Share price of Nisshin Steel, which is suffered from water supply trouble in Hiroshima, decreased due to lower operation rate.
Japan Steel Scrap Composite Prices (Sangyo Press)
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