Japan Major Electric Furnace Steels Experience Hard Time in Fiscal 2009

JFE Bars & Shapes posted 5.04 billion yen of recurring loss in fiscal 2009 ended March 2010 while the firm posted 7.74 billion yen of profit in fiscal 2008, announced on April 28. The firm posted recurring loss for the first time since fiscal 1999. The sales volume decreased by 18.6% to 1.503 million tonnes. The ferrous scrap purchase price decreased by 42.5% to 26,900 yen per tonne. However, the steel products selling price decreased by 28.5% to 70,600 yen.

The output decreased by 14% to 1.43 million tonnes in fiscal 2009 from fiscal 2008. The section steel and concrete reinforcing steel bar output decreased by 19.6% to 791,000 tonnes while the special steel bar and wire rod output decreased by 6% to 641,000 tonnes.

Kyoei Steel’s consolidated recurring profit decreased by 49.9% to 12.715 billion yen in fiscal 2009 from fiscal 2008, announced on Friday. The shipment decreased by 16.7% or around 290,000 tonnes while the averaged steel products selling price decreased by 30,000 yen per tonne and the ferrous scrap cost decreased by 17,000 yen.