This Morning in Metals: Japan’s Steelmakers Enjoy Jump in Profits

Pavel Ignatov Adobe Stock steelup 102517
Pavel Ignatov/Adobe Stock

This morning in metals news, Japan’s steelmakers are on a hot run (despite the bad press of the Kobe Steel quality data falsification scandal), U.S. Steel reported fourth-quarter 2017 net earnings of $159 million and Glencore said production in 2017 was down for most commodities.
Need buying strategies for steel? Try two free months of MetalMiner’s Outlook

Japanese Steelmakers Boast Surge in Profits

Despite the dark cloud hovering over Kobe Steel on the heels of its data falsification scandal, it’s been a strong nine months for Japan’s steelmakers.
According to Reuters, steelmakers in the country reported a jump in nine-month earnings, led by Nippon Steel & Sumitomo Metal Corp.

U.S. Steel Reports 4Q Earnings

U.S. Steel reported full-year 2017 net earnings of $387 million, or $2.19 per diluted share, during its quarterly earnings call Thursday morning.
Adjusted net earnings were $341 million, or $1.94 per diluted share, compared to a full-year 2016 net loss of $440 million, or $2.81 per diluted share. Adjusted net loss for 2016 was $250 million, or $1.60 per diluted share.
Fourth-quarter 2017 net earnings were $159 million, or $0.90 per diluted share. Adjusted net earnings for the fourth quarter 2017 were $136 million, or $0.76 per diluted share, compared to a fourth quarter 2016 net loss of $105 million, or $0.61 per diluted share. Fourth quarter 2016 adjusted net earnings were $47 million, or $0.27 per diluted share.

Leave a Reply

Your email address will not be published. Required fields are marked *

Scroll to Top