Japan steelmakers likely cut profit forecasts: Nikkei (Reuters)

Steam rises from a thick plate of steel, for use in construction and ship building, as it is hot-rolled by machinery at a steel mill in Kimitsu, Japan, February 6, 2008. (Michael Caronna/Reuters)Reuters – Japan’s Nippon Steel Corp (5401.T) and JFE Holdings Inc (5411.T) will likely cut their operating profit forecasts for this business year as demand from automakers and other customers plunges, the Nikkei business daily said on Sunday.

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