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Japan’s Nippon Steel & Sumitomo Metal to raise crude steel output

Japan’s Nippon Steel & Sumitomo Metal Corp. (NSSM) has announced plans to produce about 46 million tons of crude steel in the year through March 2015. 

The company’s crude steel output totaled around 45.7 million tons during the financial year ended in March, up by 12 million tons due to the strong demand from construction and auto sectors at home. 

NSSM’ posted its net income soared to ¥50 billion (US$492 million) during the first three months. The company is seeing positive demand and better domestic economy.

Source:YIEH

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