4 blast furnace steelmakers have announced on 9th for April-September 2012 consolidated accounting. Former Nippon Steel, former Sumitomo Metal Industries and JFE Holdings were sharply lower recurring profit. Kobe Steel get into current-account deficit. They are on the background of glut of steel material in Asian market and the global decrease of Iron and steel price caused by high yen. About recurring gain or loss for fiscal year ending March 2013, Nippon Steel & Sumitomo Metal signaled sharply lower earnings compared with the previous year, 203.8 billion yen of profit with total of two companies, due to concern with further worse of business environment. JFE Holdings trim earnings estimates to 45 billion yen which is 50% of its former level. Kobe Steel is estimated to fall into current-account deficit for the first time in 11 year.
Japan Steel Scrap Composite Prices (Sangyo Press)07/08/2020
|22100YEN (-200)||24200YEN (-100)|
|203.33US$ (-2.58)||222.65US$ (-1.73)|
* Average of electric furnaces steel maker's purchasing price in Tokyo, Osaka and Nagoya (per ton)