05
Aug
04:46
Kobe Steel pushed into losses
Japan’s Kobe Steel sank into losses in the first fiscal quarter through June. This was despite steady sales, higher prices and work to cut costs, Kallanish notes.
The company’s iron and steel segment produced 1.72 million tonnes of crude steel in the quarter, flat from a year earlier. Sales were down -2.2% year-on-year to 1.36mt of steel products. Thanks to higher steel prices, net sales in the segment were up 1.2% to JPY 181.2 billion ($1.…
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Anonymous
Very good overview of the weekly steel market.
Anonymous