WRAPUP 1-Nippon Steel, JFE Q1 profit down; Nippon hikes f'cast

Newswire

(Adds JFE result, analyst comment) By Yuko Inoue TOKYO, July 31 (Reuters) - Nippon Steel Corp , the world's No.2 steelmaker, said its quarterly profit sank 3 percent on spiralling costs but it boosted its full-year forecast after striking deals to raise long contract prices from some of its users. Third-ranked JFE Holdings Inc said its April-June pretax recurring profit fell 23 percent, and it forecast 450 billion yen ($4.2 billion) profit for the year to March 2009. JFE had previously ...

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