Japan's JFE says has not seen rise in orders after Kobe Steel scandal

2 November 2017

Japan’s No.2 steelmaker JFE Holdings Inc has not seen an increase in orders since rival Kobe Steel admitted to tampering with data on products, an executive said on Wednesday.

“We have not seen any increase in demand due to Kobe Steel’s issue,” JFE executive vice president Shinichi Okada told an earnings news conference.

“Our plants have been running at full capacity since even before then,” he said.

Kobe Steel’s admission last month that it had found widespread tampering in specifications has sent companies in global supply chains scrambling to check whether the safety or performance of their products has been compromised.

JFE also said it expected to produce 28.8 million tonnes of crude steel on a parent basis in the year through next March, compared with 28.14 million tonnes a year earlier.


Source: reuters.com