Iron ore price seems to keep falling in 2016
Japan‘s second–largest steelmaker JFE President lintianyingzhi said the global steel industry has bottomed out, but if you want to full recovery from the most serious crisis in its history, it may take up to five years. He also predicted that steel industry consolidation will accelerate.
Global glut raises steel prices last year dropped to its lowest level in ten years. Japan is the world‘s second largest producer of steel, Kobe steel (Kobe Steel), forecast an annual net loss of 20 billion yen (about US $ 176 million), its products include Kobelco cranes, excavators, and metal products. JFE will be the year to March net profit forecast in half to 25 billion yen.