{"id":579,"date":"2017-01-16T13:18:15","date_gmt":"2017-01-16T13:18:15","guid":{"rendered":"http:\/\/www.anfre.com\/?p=579"},"modified":"2017-01-16T13:18:15","modified_gmt":"2017-01-16T13:18:15","slug":"jfe-halves-profit-forecast-as-chinese-steel-demand-falters","status":"publish","type":"post","link":"https:\/\/anfre.com\/?p=579","title":{"rendered":"JFE Halves Profit Forecast as Chinese Steel Demand Falters"},"content":{"rendered":"

JFE Holdings Inc., Japan\u2019s second-biggest steelmaker, cut its full-year profit forecast for the second time in three months, warning that declining overseas demand, particularly in China, had weakened prices more than expected.
\nFor the year to March, the Tokyo-based company said it now expects net income of 25 billion yen ($207 million), according to a statement Friday. JFE also warned at a briefing in Tokyo it would swing to a loss in the fourth quarter as it absorbs asset writedowns, including on its Namisa iron ore venture in Brazil, and cuts to the value of its inventory.
\nMills worldwide are contending with a global glut of the metal as China, the top supplier, exports its surplus in the face of contracting domestic demand. While China\u2019s government has pledged capacity cuts and output has begun to shrink, its steel exports in 2015 still topped 100 million metric tons for the first time. That\u2019s more than Japan, the No. 2 producer, churns out in a year.
\nChina\u2019s deluge has sparked trade tensions and hammered rivals across the globe. South Korea\u2019s Posco reported its smallest ever annual profit on Thursday, while Nippon Steel & Sumitomo Metal Corp., JFE\u2019s bigger domestic rival, cut its full-year earnings forecast in October by almost a third. Nippon Steel reports nine-month earnings Monday.
\n\u201cOverseas steel prices are falling more than anticipated due to widening oversupply as demand abroad, especially China, continued to decline,\u201d JFE\u2019s Executive Vice President Okada said at the briefing. \u201cThe size of China\u2019s output cuts trail its slowdown in domestic consumption. The country\u2019s record steel exports are having a significant effect.\u201d
\nAngang Steel<\/strong><\/p>\n

China\u2019s own mills are also getting crushed. Angang Steel Co. Ltd., the fourth-biggest by production, said Friday it expects to swing to a loss of about 4.38 billion yuan ($666 million) for 2015, citing falling prices and a squeeze on margins. It made a net profit of 928 million yuan in 2014.
\nThe steel market\u2019s collapse is turning the tide in China, which last year churned out less metal for the first time since 1981, according to a statement Friday from the China Iron & Steel Association. Crude steel output shrank 2.3 percent to 803.8 million tons as the economy expanded at its slowest pace since 1990.
\nIn the nine months to December, JFE posted net income of 37.3 billion yen, a near two-thirds decline from a year ago. It didn\u2019t break out its third quarter, but according to a Bloomberg calculation, net income for the period was about 7.4 billion yen. The company also cut its operating profit forecast for the year by a quarter to 90 billion yen, and its sales forecast by 6.6 percent.
\nJapan Iron and Steel Federation Chairman Koji Kakigi, who also heads JFE\u2019s steel unit, warned last month that the country\u2019s exports could drop more than expected this year, even as domestic demand remains buoyant. In the last fiscal year, nearly half of JFE and Nippon\u2019s steel production was shipped overseas.
\nJFE forecasts that product prices this quarter will average 62,000 yen a ton, down from the preceding quarter\u2019s 65,100 yen and a year-ago level of 77,300 yen, according to its statement. Its stock closed 3.8 percent higher in Tokyo before its earnings release.<\/p>\n","protected":false},"excerpt":{"rendered":"

JFE Holdings Inc., Japan\u2019s second-biggest steelmaker, cut its full-year profit forecast for the second time in three months, warning that declining overseas demand, particularly in China, had weakened prices more than expected. For the year to March, the Tokyo-based company said it now expects net income of 25 billion yen ($207 million), according to a … <\/p>\n

Seguir leyendo<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-579","post","type-post","status-publish","format-standard","hentry","category-sin-categoria","item-wrap"],"yoast_head":"\r\nJFE Halves Profit Forecast as Chinese Steel Demand Falters - Asociaci\u00f3n Nacional de Fabricantes e Instaladores de Productos Refractarios, Materiales y Servicios Afines<\/title>\r\n<meta name=\"robots\" content=\"noindex, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\r\n<meta property=\"og:locale\" content=\"es_ES\" \/>\r\n<meta property=\"og:type\" content=\"article\" \/>\r\n<meta property=\"og:title\" content=\"JFE Halves Profit Forecast as Chinese Steel Demand Falters - Asociaci\u00f3n Nacional de Fabricantes e Instaladores de Productos Refractarios, Materiales y Servicios Afines\" \/>\r\n<meta property=\"og:description\" content=\"JFE Holdings Inc., Japan\u2019s second-biggest steelmaker, cut its full-year profit forecast for the second time in three months, warning that declining overseas demand, particularly in China, had weakened prices more than expected. For the year to March, the Tokyo-based company said it now expects net income of 25 billion yen ($207 million), according to a … Seguir leyendo\" \/>\r\n<meta property=\"og:url\" content=\"https:\/\/anfre.com\/?p=579\" \/>\r\n<meta property=\"og:site_name\" content=\"Asociaci\u00f3n Nacional de Fabricantes e Instaladores de Productos Refractarios, Materiales y Servicios Afines\" \/>\r\n<meta property=\"article:published_time\" content=\"2017-01-16T13:18:15+00:00\" \/>\r\n<meta name=\"author\" content=\"rhorcajo40A\" \/>\r\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"rhorcajo40A\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutos\" \/>\r\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/anfre.com\\\/?p=579#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/anfre.com\\\/?p=579\"},\"author\":{\"name\":\"rhorcajo40A\",\"@id\":\"https:\\\/\\\/anfre.com\\\/wp-nuevo\\\/#\\\/schema\\\/person\\\/9178feecddd35e984545f444bc1388da\"},\"headline\":\"JFE Halves Profit Forecast as Chinese Steel Demand Falters\",\"datePublished\":\"2017-01-16T13:18:15+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/anfre.com\\\/?p=579\"},\"wordCount\":541,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/anfre.com\\\/wp-nuevo\\\/#organization\"},\"inLanguage\":\"es\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/anfre.com\\\/?p=579#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/anfre.com\\\/?p=579\",\"url\":\"https:\\\/\\\/anfre.com\\\/?p=579\",\"name\":\"JFE Halves Profit Forecast as Chinese Steel Demand Falters - Asociaci\u00f3n Nacional de Fabricantes e Instaladores de Productos Refractarios, Materiales y Servicios Afines\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/anfre.com\\\/wp-nuevo\\\/#website\"},\"datePublished\":\"2017-01-16T13:18:15+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/anfre.com\\\/?p=579#breadcrumb\"},\"inLanguage\":\"es\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/anfre.com\\\/?p=579\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/anfre.com\\\/?p=579#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/anfre.com\\\/wp-nuevo\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"JFE Halves Profit Forecast as Chinese Steel Demand Falters\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/anfre.com\\\/wp-nuevo\\\/#website\",\"url\":\"https:\\\/\\\/anfre.com\\\/wp-nuevo\\\/\",\"name\":\"ANFRE\",\"description\":\"Asociaci\u00f3n Nacional de Fabricantes e Instaladores de Productos Refractarios, Materiales y Servicios Afines \",\"publisher\":{\"@id\":\"https:\\\/\\\/anfre.com\\\/wp-nuevo\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/anfre.com\\\/wp-nuevo\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"es\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/anfre.com\\\/wp-nuevo\\\/#organization\",\"name\":\"ANFRE\",\"url\":\"https:\\\/\\\/anfre.com\\\/wp-nuevo\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"es\",\"@id\":\"https:\\\/\\\/anfre.com\\\/wp-nuevo\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"https:\\\/\\\/anfre.com\\\/wp-nuevo\\\/wp-content\\\/uploads\\\/anfre_logo.png\",\"contentUrl\":\"https:\\\/\\\/anfre.com\\\/wp-nuevo\\\/wp-content\\\/uploads\\\/anfre_logo.png\",\"width\":250,\"height\":250,\"caption\":\"ANFRE\"},\"image\":{\"@id\":\"https:\\\/\\\/anfre.com\\\/wp-nuevo\\\/#\\\/schema\\\/logo\\\/image\\\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/anfre.com\\\/wp-nuevo\\\/#\\\/schema\\\/person\\\/9178feecddd35e984545f444bc1388da\",\"name\":\"rhorcajo40A\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"es\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/cc02909291b560dcd59c176bffc566d93b3a1e0394e11b0bd96ddef14ba53c42?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/cc02909291b560dcd59c176bffc566d93b3a1e0394e11b0bd96ddef14ba53c42?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/cc02909291b560dcd59c176bffc566d93b3a1e0394e11b0bd96ddef14ba53c42?s=96&d=mm&r=g\",\"caption\":\"rhorcajo40A\"},\"url\":\"https:\\\/\\\/anfre.com\\\/?author=1\"}]}<\/script>\r\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"JFE Halves Profit Forecast as Chinese Steel Demand Falters - Asociaci\u00f3n Nacional de Fabricantes e Instaladores de Productos Refractarios, Materiales y Servicios Afines","robots":{"index":"noindex","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"og_locale":"es_ES","og_type":"article","og_title":"JFE Halves Profit Forecast as Chinese Steel Demand Falters - Asociaci\u00f3n Nacional de Fabricantes e Instaladores de Productos Refractarios, Materiales y Servicios Afines","og_description":"JFE Holdings Inc., Japan\u2019s second-biggest steelmaker, cut its full-year profit forecast for the second time in three months, warning that declining overseas demand, particularly in China, had weakened prices more than expected. For the year to March, the Tokyo-based company said it now expects net income of 25 billion yen ($207 million), according to a … Seguir leyendo","og_url":"https:\/\/anfre.com\/?p=579","og_site_name":"Asociaci\u00f3n Nacional de Fabricantes e Instaladores de Productos Refractarios, Materiales y Servicios Afines","article_published_time":"2017-01-16T13:18:15+00:00","author":"rhorcajo40A","twitter_misc":{"Written by":"rhorcajo40A","Est. reading time":"3 minutos"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/anfre.com\/?p=579#article","isPartOf":{"@id":"https:\/\/anfre.com\/?p=579"},"author":{"name":"rhorcajo40A","@id":"https:\/\/anfre.com\/wp-nuevo\/#\/schema\/person\/9178feecddd35e984545f444bc1388da"},"headline":"JFE Halves Profit Forecast as Chinese Steel Demand Falters","datePublished":"2017-01-16T13:18:15+00:00","mainEntityOfPage":{"@id":"https:\/\/anfre.com\/?p=579"},"wordCount":541,"commentCount":0,"publisher":{"@id":"https:\/\/anfre.com\/wp-nuevo\/#organization"},"inLanguage":"es","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/anfre.com\/?p=579#respond"]}]},{"@type":"WebPage","@id":"https:\/\/anfre.com\/?p=579","url":"https:\/\/anfre.com\/?p=579","name":"JFE Halves Profit Forecast as Chinese Steel Demand Falters - Asociaci\u00f3n Nacional de Fabricantes e Instaladores de Productos Refractarios, Materiales y Servicios Afines","isPartOf":{"@id":"https:\/\/anfre.com\/wp-nuevo\/#website"},"datePublished":"2017-01-16T13:18:15+00:00","breadcrumb":{"@id":"https:\/\/anfre.com\/?p=579#breadcrumb"},"inLanguage":"es","potentialAction":[{"@type":"ReadAction","target":["https:\/\/anfre.com\/?p=579"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/anfre.com\/?p=579#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/anfre.com\/wp-nuevo"},{"@type":"ListItem","position":2,"name":"JFE Halves Profit Forecast as Chinese Steel Demand Falters"}]},{"@type":"WebSite","@id":"https:\/\/anfre.com\/wp-nuevo\/#website","url":"https:\/\/anfre.com\/wp-nuevo\/","name":"ANFRE","description":"Asociaci\u00f3n Nacional de Fabricantes e Instaladores de Productos Refractarios, Materiales y Servicios Afines ","publisher":{"@id":"https:\/\/anfre.com\/wp-nuevo\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/anfre.com\/wp-nuevo\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"es"},{"@type":"Organization","@id":"https:\/\/anfre.com\/wp-nuevo\/#organization","name":"ANFRE","url":"https:\/\/anfre.com\/wp-nuevo\/","logo":{"@type":"ImageObject","inLanguage":"es","@id":"https:\/\/anfre.com\/wp-nuevo\/#\/schema\/logo\/image\/","url":"https:\/\/anfre.com\/wp-nuevo\/wp-content\/uploads\/anfre_logo.png","contentUrl":"https:\/\/anfre.com\/wp-nuevo\/wp-content\/uploads\/anfre_logo.png","width":250,"height":250,"caption":"ANFRE"},"image":{"@id":"https:\/\/anfre.com\/wp-nuevo\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/anfre.com\/wp-nuevo\/#\/schema\/person\/9178feecddd35e984545f444bc1388da","name":"rhorcajo40A","image":{"@type":"ImageObject","inLanguage":"es","@id":"https:\/\/secure.gravatar.com\/avatar\/cc02909291b560dcd59c176bffc566d93b3a1e0394e11b0bd96ddef14ba53c42?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/cc02909291b560dcd59c176bffc566d93b3a1e0394e11b0bd96ddef14ba53c42?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/cc02909291b560dcd59c176bffc566d93b3a1e0394e11b0bd96ddef14ba53c42?s=96&d=mm&r=g","caption":"rhorcajo40A"},"url":"https:\/\/anfre.com\/?author=1"}]}},"_links":{"self":[{"href":"https:\/\/anfre.com\/index.php?rest_route=\/wp\/v2\/posts\/579","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/anfre.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/anfre.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/anfre.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/anfre.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=579"}],"version-history":[{"count":1,"href":"https:\/\/anfre.com\/index.php?rest_route=\/wp\/v2\/posts\/579\/revisions"}],"predecessor-version":[{"id":580,"href":"https:\/\/anfre.com\/index.php?rest_route=\/wp\/v2\/posts\/579\/revisions\/580"}],"wp:attachment":[{"href":"https:\/\/anfre.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=579"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/anfre.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=579"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/anfre.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=579"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}