Major Electric Steelmakers' Apr-Jun Operating Profits Face Double-Digit Fall

摘要

Japan's 16 major electric steelmakers incurred a double-digit fall each in their operating profits for April-June 2007 or the first quarter of fiscal 2007 (April 2007-March 2008). They enjoyed a favorable upswing in the sales prices of their products, but a major advance in ferrous scrap prices brought deteriorated earnings. They are concerned about the prospects of ferrous scrap prices, while they alike forecast decreased earnings for the first half (April-September) of fiscal 2007 as if to assume a continued rise in raw materials costs.