Japan’s crude steel production will drive up this year, Japan Iron and Steel Federation chairman addressed at the April 29 regular briefing. “domestic steel demand is to rise in synch with the recovery in the manufacturing industries including construction and automotive,” JISF chairman added. That can be construed to add 2.1~2.3 percent from 2018 of 102.89 million tons.
Meanwhile, Tokyo Steel is predicted to see its current profit fall 30 percent under the 2019 fiscal statement forecast released April 23. As of March 2020, the company’s current profit is expected to be about 12 billion yen, down 30.7 percent year on year. The main cause of decrease looks to owe to the worsened spread incurred between the raw materials prices and sales prices, the company added.
Source: Steel&Metal News |
