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Japan’s integrated steel mills post severe losses in FY19

Japan’s three integrated steel mills posted severe net losses on year during the fiscal year 2019 (April 2019-March 2020) mainly because of unprecedented challenges brought along by the COVID-19, industry sources shared on May 15.
Among the three mills, Nippon Steel, Japan’s largest integrated mill, posted the biggest loss at Yen 431.5 billion ($4 billion), and both Nippon and JFE Steel posted the biggest losses in their record, according to their financial results released on May 8 and May 12. “The net loss for FY2019 was because of

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