Nippon Steel announced on Thursday the firm posted 86.9 billion yen of consolidated recurring loss for first half year to September compared with 262.2 billion yen of profit in same period of 2008. Sumitomo Metal Industries posted 47.6 billion yen of recurring loss compared with 151.7 billion yen of profit. Kobe Steel posted 44.2 billion yen of recurring profit compared with 85.5 billion yen of profit. They expect they can post profit in the second half of the year due to higher production level and better demand.
Nippon Steel’s consolidated recurring loss was narrowed from 56.6 billion yen in April-June to 30.3 billion yen in July-September when the unconsolidated raw steel output increased by 39.6% to 6.73 million tonnes. The firm revised the annual recurring profit outlook to 20 billion yen for fiscal 2009 ending March 2010, which is 94.1% lower than fiscal 2008 and higher than zero yen of provisional outlook in April. The firm tries to post 106.9 billion yen of recurring profit for the second half. Sumitomo Metals posted first consolidated recurring loss in 8 years. The firm expects 45 billion yen of recurring loss for fiscal 2009, which is the first loss in 10 years, compared with 225.7 billion yen of profit in fiscal 2008 and 40 billion yen of loss estimated in July. The firm expects 20 billion yen of the profit in January-March after 20 billion yen loss for October-December. Kobe Steel revised the consolidated recurring loss to 20 billion yen for fiscal 2009 from 25 billion yen of loss announced in September while the profit was 60.8 billion yen in fiscal 2008. The steel unit posted 54.2 billion yen of operating loss in the first half compared with 63.7 billion yen of profit in same period of fiscal 2008. The steel unit’s operating loss is 37 billion yen for fiscal 2009 compared with 77.7 billion yen of profit in fiscal 2008.M | T | W | T | F | S | S |
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Japan Steel Scrap Composite Prices (Sangyo Press)
2024/11/21H2 | NewCutting (PRESS) |
41300YEN (-) | 43200YEN (-) |
264.52US$ (-0.38) | 276.69US$ (-0.39) |
* Average of electric furnaces steel maker's purchasing price in Tokyo, Osaka and Nagoya (per ton)
- JMB Tieup company
- The Korea Metal Journal
- ferro-alloys.com
- Steel on the net
- AMM
- MEPS