Japan’s largest steelmaker – Nippon Steel has released its annual results today for the fiscal year 2020-21 i.e. Apr’20-Mar’21. The key highlights of its production and sales performance for the year are as follows:
- Crude steel production declined to 33 mn t, compared to 41.85 mn t in the previous year
- Steel shipments fell to 31.22 mn t, compared to 38.70 mn t in the previous year.
The decline in steel output/shipments in the H1 due to shut down of its blast furnaces’ operations in response to fall in demand caused by pandemic, was the main reason for this double-digit decline in both steel production and shipments in FY’21. However, the same saw an improvement in H2 with recovery in steel demand.
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