Japan's largest steelmaker Nippon Steel recently predicted a difficult 2012 situation, expecting steel prices to stay low on down-stream competition.
Also, the company forecasted that the strong Japanese Yen will depress steelmakers’ profitability.
Nippon Steel’s official said car, ship and construction industry will buy less steel products due to slow demand.
The strong yen and cooling economies in China and Europe will affect its export volumes negatively.
The steelmaker’s 40% shipments are for international market. Most steelmakers in Japan ship big portion of steel output to international market.
Leave a Reply