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Kobelco reduced steel production

Japanese company Kobelco (Kobe Steel) reduced steel production by 1.2% in April-June.

Kobelco reduced steel production

The Japanese company Kobe Steel Ltd, known internationally under the brand "Kobelco," has released its report for the first quarter of the 2023. The report indicates that its net profit amounted to ¥26.26 billion ($183.73 million), compared to a net profit of ¥21.55 billion for the same quarter the previous year.

During the examined period, the company's crude steel production reached 1.57 million tons, experiencing a decrease of 1.2%, while the volumes of metal product sales were at 1.19 million tons, declining by 5.5%, both on a year-on-year basis.

It is anticipated that for the entire 2023-24 financial year, Kobe Steel's crude steel production will be around 6.1 million tons, whereas the company's sales volumes are expected to be approximately 4.9 million tons.


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