Nippon Steel and Sumitomo Metal Corp were profitable in the second quarter

Nippon Steel and Sumitomo Metal Corp said that he returned to the metal market and had profit within three months from April to June, thanks to high internal demand in Japan and the rest of Asia. The Japanese giant steel said that his net profit reached 63.4 billion yen, replacing a net loss, recorded a year earlier.

Operating profit reached 56.1 billion yen. Sales amounted to 1290 billion yen, which is 34 percent more compared to last year. During this period, the internal demand for steel was strong for civil construction and construction projects of reconstruction. The steel also added exports in connection with the restoration in some foreign countries, in particular in the ASEAN region.

At the same time, the preservation of a high level of production of Chinese metallurgists led to a deterioration in the conditions of demand and supply of steel products on the international market recently. Under these conditions, the Nippon Steel and Sumitomo Metal Corporation seeks to maximize measures to improve its position in the steel market, including through the implementation of integration effects and demanded to revise products, cooperating with its customers and understanding their needs.

In the steel and steel and steel segment, Nippon Steel and Sumitomo Metal Corporation recorded a net sales volume of 1142.7 billion yen, as well as the usual profit of -75.7 billion yen.