Nippon Steel profits soar as production rises by 10 percent in second quarter

摘要

SINGAPORE -- The second-quarter profits of Nippon. Steel, Japan's largest steelmaker, -surged 165 percent to RMB 146 billion (1.3 dollars billion). Crude steel production for the quarter to June was 8.6 million tonnes on a consolidated basis,-or 7,9 million tonnes on a non-consolidated basis, an increase of about 10 percent over a year earlier, the company said. The price of steel products rose in the quarter to an average RMB 70,800 per tonne, from RMB 55,900 per tonne a year earlier. Shipments also rose 7 percent year-on-year to 7,4 million tonnes, but were down from the 7.8 million tonnes the company shipped in the previous quarter. Domestic steel demand from the manufacturing sector and the building construction sector remains strong, while demand from the civil engineering sector is sluggish, Nippon Steel said in a statement.