compare the numbers, page-16

re: compare the numbers: mvanle Hi Jhamann.

I do see how you are looking at the numbers - when you sell it 60% of the sale price is profit. That's clear enough.

The article you post is interesting. I picked up this section:
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"Japan's top four steelmakers, which also include Sumitomo Metal Industries Ltd. (5405.T: Quote, Profile, Research) and Kobe Steel Ltd. (5406.T: Quote, Profile, Research), ALL BOOKED RECORD PROFITS for the year ended March 31 on strong demand for high-quality sheet steel from shipbuilders and car makers.

But they predicted profits would fall this year due to SHARP DROPS IN THE VALUE OF THEIR INVENTORIES and uncertainty surrounding raw material costs."
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That makes my eyebrows raise a bit! Why are they whinging about input costs immediately after announcing record profits? Why have their inventories dropped in value - surely that's not linked with the raw materials?

I'll bet that they weren't complaining when zinc was less than 40c/lb a few years ago. The fact is that the same factors that have driven up raw metal costs are the same that have driven their own record profits - consumer demand. So long as that stays strong they will not have anything to worry about other than maybe slightly less profitable years until producers increase supply sufficiently to lead to surplus again.