Steel price plunge erodes ThyssenKrupp’s profit expectations

摘要

German conglomerate ThyssenKrupp has lowered its adjusted EBIT forecast to "at least ?1.4 bn" ($1.6 bn)for its financial year ending 30 September, from a previous prediction of between ?1.6 bn and ?1.9 bn.Steel operations are now part of its materials segment, and the company said: "Material prices remainedunder pressure well into the second quarter and thus longer than expected. The price falls were also sharperthan anticipated."