Japanese steelmaker Nippon Steel & Sumitomo Metal Corp. (NSSMC) has announced that media reports regarding the revised forecast of its consolidated results for the financial year 2012-13 are not based on any announcement made by the company.
The media reports said that the Japanese steel giants including, NSSMC, JFE Steel and Kobe Steel have cut their outlook for crude steel output in the second half of the year, suggesting that NSSMC's October crude steel output decreased by between two and three percent year on year.
NSSMC will issue its results for the second quarter of the financial year 2012-13 later this week.