JFE Holdings Inc., Japan’s second- biggest steelmaker, will push back a decision on whether to build a $3.6 billion integrated steel mill in Vietnam, its first outside Japan, as it assesses competitive risks.
Japan’s crude steel output may decline in the next quarter starting Oct. 1 after a subsidy for fuel-efficient vehicles ends this month and demand slows, Japan Iron and Steel Federation Chairman Eiji Hayashida told reporters today in Tokyo.
Japanese shipbuilders will ask local steel mills to cut prices for plate used to construct vessels or be replaced by rivals from South Korea or China as the yen strengthens, three people familiar with the matter said.
Rates for panamaxes, the largest coal and iron-ore carriers to pass through the Panama Canal, may jump about 55 percent as Japan buys more raw materials to generate power and rebuild after its worst-ever earthquake.
BHP Billiton Ltd. , the world’s largest mining company, may use last month’s 16 percent decline in iron-ore prices to persuade steelmaking clients to pay cash instead of contract-based prices from next quarter.
JFE Holdings Inc., Japan’s second- largest steelmaker, forecast its first annual loss as slowing economies reduced demand for the metal used in cars, ships and construction and the yen’s strength erode sales.
Steel output in Japan, the world’s second-largest producer, may remain little changed in the next fiscal year as a strengthening currency and the end of a state subsidy on fuel-efficient vehicles slow sales to carmakers.