10
Aug
01:25
Kobe Steel lowers steel production, sales guidance
Japan’s Kobe Steel has revised down its sales target for the fiscal year ending 31 March 2023 (FY22) despite higher earnings in the June quarter, according to its latest financial report.
In the June quarter, Kobe Steel produced 1.59 million tonnes of crude steel, down 4.2% year-on-year. Sales were down less than 1% at 1.26mt owing to a decrease in automobile production.
However, average selling price of steel stood at JPY 126,500/tonne ($956/t), surging mo…
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Anonymous
Very good overview of the weekly steel market.
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