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.
JFE Holdings Inc. , Japan’s second- largest steelmaker, plans to spend as much as 200 billion yen ($2.2 billion) to invest in iron ore and coal mines in Australia and Brazil to double self sufficiency in materials as costs jump.
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.
Demand for steel in Japan, the world’s second-largest producer, will likely fall this fiscal year as customers including carmakers slash production following the nation’s worst earthquake, an industry chief said.
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.