April 27, 2017 / 6:23 AM / 3 months ago

Japan's JFE says to increase steel output by 3 pct to 29 mln t this fiscal year

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TOKYO, April 27 (Reuters) - JFE Holdings Inc, Japan's second-biggest steelmaker, said on Thursday it will increase output of crude steel in the year through March 2018 by 3 percent.

The company expects to produce 29 million tonnes of crude steel on a parent basis in the 12 months through March next year, compared with 28.14 million tonnes a year earlier, an executive said.

The output forecast came as the company reported a one-third increase in recurring profit for the last financial year. (Reporting by Yuka Obayashi; Writing by Aaron Sheldrick; Editing by Kenneth Maxwell)

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