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Reuters
Nippon Steel may beat profit forecast on strong overseas demand – executive
Nippon Steel, the world’s No.3 steelmaker, may beat its own profit forecast for the year to March 31, 2022, as its exports and overseas businesses benefit from robust demand and strong steel prices, a senior company executive told Reuters. “Overseas steel demand is fairly strong,” Executive Vice President Takahiro Mori said in an interview. “As China, which produces nearly 60% of global steel, intends to cut its output capacity, the steel market will become even tighter, while iron ore prices will likely fall,” he said.
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