How Are Declines In Iron Ore Prices Likely To Affect Mitsui's Share Prices?
FNF Solutions • Mon, Sep. 22
- The company’s senior executive has warned that the company might miss its $1.1 billion profit target. This is due to a slump in iron ore prices.
- China, which takes away two-thirds of the worlds iron ore shipment for its steel making industry, is also experiencing a slump in demand.
- The company will continue forward with its plan to boost output to 70 million tons by the end of 2020.
- Mitsui has constantly been engaged in exploring other prospective projects for the future. The company spent almost $18.6 billion in acquisitions in the current decade.
- The company was able to increase its revenues; however, net income declined over the prior year, as reported in the third quarter results of this year.