06
Nov
10:35
Kobe Steel reports better performance on automotive recovery
Japanese steelmaker Kobe Steel reported an improved performance in the first half of fiscal 2020 (FY20) due to a faster automotive recovery than anticipated. The Japanese automotive sector was the key driver for low steel demand in the June quarter, Kallanish notes.
Net loss reached JPY 15.209 billion ($146.9 million) in H1 FY20, but the loss in the second fiscal quarter (FQ2) only accounted for 15.5% of that in FQ1.
2.48 million tonnes of crude s…
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Anonymous
Very good overview of the weekly steel market.
Anonymous