Metals News
Nippon Steel: Don't See Price Rises in Asia for Now
industry news
11:37AM
May 15,2012
Source:SMM

May 14 (Reuters) - Nippon Steel Corp, the world's No.4 steelmaker, expects a supply glut of steel products in Asia to continue for a while, with price rises unlikely for now, President Shoji Muneoka said at a news conference on Monday.

Muneoka called the firm's annual cost reduction target of 150 billion yen ($1.88 billion) following a planned merger with Sumitomo Metal Industries Ltd on Oct. 1 "conservative".

 

 

Nippon Steel
glut
Asia
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rise
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