Recently, as the market’s demand for steel continues to rise, Japan’s three major steel manufacturers have successively raised their net profit expectations for the 2021-2022 fiscal year (April 2021 to March 2022).
Three Japanese steel giants, Nippon Steel, JFE Steel and Kobe Steel, have recently announced their performance statistics for the first half of the fiscal year 2021-2022 (April 2021-September 2021). Statistics show that after the new crown pneumonia epidemic has been relatively stable under control, the economy has continued to recover, and the demand for steel in automobiles and other manufacturing industries has rebounded. In addition, the price of steel has been driven by the increase in the prices of raw materials such as coal and iron ore. Also rose accordingly. As a result, Japan’s three major steel manufacturers will all turn losses into profits in the first half of fiscal year 2021-2022.
In addition, given that the steel market demand will continue to pick up, the three steel companies have all raised their net profit forecasts for the 2021-2022 fiscal year. Nippon Steel raised its net profit from the previously expected 370 billion yen to 520 billion yen, JFE Steel raised its net profit from the expected 240 billion yen to 250 billion yen, and Kobe Steel raised its net profit from expected The 40 billion yen of Japan is raised to 50 billion yen.
Masashi Terahata, vice president of JFE Steel, said at a recent online press conference: “Due to semiconductor shortages and other reasons, the company’s production and operation activities are temporarily affected. However, with the recovery of domestic and foreign economies, it is expected that market demand for steel will continue. Pick up slowly.