28
Jan
19:02
Nippon Steel subsidiary hit by high scrap prices
Japan’s Nippon Steel has revised downwards the profit forecast for its Osaka Steel subsidiary for the financial year ending March 2021. The company blames high scrap prices for wiping out its profit margin, Kallanish notes.
Osaka Steel is an electric arc furnace steelmaker and so is vulnerable to scrap and electricity price hikes. Scrap prices in Japan and internationally are now falling, and this could ease the pressure on Osaka Steel in the coming months. …
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Anonymous
Very good overview of the weekly steel market.
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