Japan: JFE Steel reports 15% fall in crude steel production in FY’21

Japan’s second largest steelmaker – JFE Steel has released its operational results for the fiscal year FY’21 ended on 31st Mar’21. The key highlights are as follows:

• Standalone crude steel production stood at 22.76 mn t, declining 15% on a y-o-y basis on weak demand. However, the production improved against set target on 22.7 mn t owing to hike in steel prices towards end of the fiscal.
• Standalone steel shipments fell by 13% y-o-y to 20.49 mn t.