09
May
08:51
Nippon’s annual profit drops despite production hikes
Japan’s top steelmaker Nippon Steel saw its revenue grow in line with hiking production and sales in the fiscal year 2023 (FY23) ending on 31 March 2024. However, its profits still dropped amid the market downturn, Kallanish notes from the company’s annual reports.
Consolidated crude steel production hiked 0.5% year-on-year to 40.51 million tonnes in FY23. Within this, affiliates’ contribution was only 5.52mt, down 9.1% from a year earlier.
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Anonymous
Very good overview of the weekly steel market.
Anonymous