Japanese steelmaking behemoths JFE and Nippon Steel have both announced losses for the previous financial year in recent days, with the two firms citing a highly challenging operating environment.
Both companies will enact further reductions to their steel output in the coming months after a bruising first five months of the year where the effects of Covid-19 have ravaged Japanese steel demand and prices.In February, Nippon banked its Setouchi Works in Kure, in April it banked BFs at...