WRAPUP 1-Asian steel mills' profit hit by flagging economy

Newswire

* Nippon Steel raises 08/09 profit target by 24 pct * Nippon Steel plans 1 mln tonne output cut in H2 * Baosteel expects losses in key product areas in Q4 By Yuko Inoue and Alfred Cang TOKYO/SHANGHAI, Oct 29 (Reuters) - Nippon Steel Corp and China's Baoshan Iron and Steel Co (Baosteel), two of Asia's biggest steelmakers, posted weak quarterly results and face a bleak demand outlook as recession fears stalk the global economy. Nippon Steel, the world's second-biggest steelmaker, ...

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