4 blast furnaces steel manufactures announced the half-yearly accounts for ending March 2016, hard market environment distributed to each result. Nippon Steel & Sumitomo Metal, JFE Holdings cut forecast for the whole financial year by over 100 billion yen for consolidated current profit. Kobe Steel reset downward adjusted forecast downward again, and Nisshin Steel also made a downward revision, on the background of overseas excess capacity, rapid downturn of export market caused by active export by China.
Japan Steel Scrap Composite Prices (Sangyo Press)10/18/2018
|36200YEN (-)||41300YEN (-)|
|318.38US$ (-0.82)||363.24US$ (-0.93)|
* Average of electric furnaces steel maker's purchasing price in Tokyo, Osaka and Nagoya (per ton)