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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.
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MITSY vs. ETF Alternatives
Mitsui & Co., Ltd. is engaged in the provision of services to facilitate trade and promote the development of commerce and industry around the world as an integrated trading company. Co.'s principal products include metal: iron ore, non-ferrous metals; machinery & information: machinery and the... More
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