Most 5 major business corporations have announced their midterm consolidated account settlements for the period ending in September, on Friday. In iron and steel field, 4 companies, Mitsubishi, Mitsui, Itochu, Sumitomo, was declining profit due to price decrease of raw material for iron and steel, the work stoppage of mine, decline of iron and steel market, and only Marubeni was increased profit. If transient factor is excluded, even Marubeni was declining profit. Growth of resources demand shows a downturn because of European financial crisis and slowdown of economic growth in China. It is estimated that the raw material price and iron and steel market keeps downturn, and Mitsubishi, Mitsui, Itochu trimmed earnings estimates.
Japan Steel Scrap Composite Prices (Sangyo Press)07/06/2020
|22400YEN (-500)||24500YEN (-500)|
|206.17US$ (-4.81)||225.49US$ (-4.84)|
* Average of electric furnaces steel maker's purchasing price in Tokyo, Osaka and Nagoya (per ton)