Latest news with #steelmaker
Yahoo
09-05-2025
- Business
- Yahoo
Japan's Nippon Steel annual profit down 36%, beats forecasts
TOKYO (Reuters) -Nippon Steel, Japan's top steelmaker, posted on Friday 350.2 billion yen ($2.41 billion) in net profit for the year ended in March, down 36% from a year ago but beating analysts' forecasts. An LSEG poll of analysts had expected Nippon Steel to post a 334.3 billion yen net profit for the last fiscal year. The company forecast net profit for the year ending next March at 200 billion yen. Nippon Steel's $15 billion bid for U.S. Steel, rejected by former U.S. President Joe Biden, is under revision by U.S. authorities. ($1 = 145.4500 yen)
Reuters
09-05-2025
- Business
- Reuters
Japan's Nippon Steel annual profit down 36%, beats forecasts
TOKYO, May 9 (Reuters) - Nippon Steel (5401.T), opens new tab, Japan's top steelmaker, posted on Friday 350.2 billion yen ($2.41 billion) in net profit for the year ended in March, down 36% from a year ago but beating analysts' forecasts. An LSEG poll of analysts had expected Nippon Steel to post a 334.3 billion yen net profit for the last fiscal year. The company forecast net profit for the year ending next March at 200 billion yen. Nippon Steel's $15 billion bid for U.S. Steel (X.N), opens new tab, rejected by former U.S. President Joe Biden, is under revision by U.S. authorities. ($1 = 145.4500 yen)
Reuters
08-05-2025
- Business
- Reuters
Acerinox's first-quarter profit falls dramatically on weak steel demand
May 8 (Reuters) - Spanish steelmaker Acerinox ( opens new tab said on Thursday its net profit in the first-quarter fell 81% compared with the same period in 2024 as demand for stainless steel in Europe failed to pick up and global trade uncertainties further hit the industry. The company booked a net profit of 10 million euros ($11.28 million) in the quarter, down from 53 million euros, a year ago. Tariff-related uncertainties and an adverse backdrop caused markets to slow down and postponed an awaited recovery of demand, it said. Even though the steel maker expects to benefit from tariffs as the U.S., where its most profitable steel mills are located, it is concerned production that previously supplied North America would now flood the European Union and hurt its business there. ($1 = 0.8864 euros)
