Fuwa Metal Expands Ferrous Scrap Business in USA

Osaka based ferrous scrap dealer, Fuwa Metal’s US operation expands the business after the launch in August 2007. The US unit settled around 50,000 tonnes of ferrous scrap deals mainly US scrap container export for Taiwanese buyers. The firm tries to expand the transactions with US dealers to realize 500,000 tonnes of annual export and US$ 150 million of sales in 2010.The US unit already has around 20 supplier contracts with US small scrap dealers to secure local materials for container export shipping. The unit intentionally chooses smaller dealers as scrap supplier to secure high quality materials when small dealers tend to cut the materials to small size and to exclude impurity carefully. The unit shipped 1,500 tonnes of scrap for 3 steel makers in Taiwan in mid-October and got orders from steel makers in other 7 countries. The unit’s export volume is monthly 20,000-30,000 tonnes compared with 10,000 tonnes of original plan. The unit tries to expand the customer base to 40-50 makers for more export.