Japanese 3 light metal rolling makers of major 5 posted lower operating profit for the half year to September compared with same period of 2006 while Sumitomo Light Metal Industries and Showa Denko’s aluminium unit posted higher profit. They are suffered from lower demand and very slow building activity along with higher raw materials cost. Nippon Light Metal reported 10.07 billion yen of operating profit in the half year compared with 14.39 billion yen in same period 2006. The operating profit decreased to less than 2 billion yen for flat and extrusion products. Kobe Steel’s aluminium and copper unit posted higher sales in the first half from same period of 2006. However, the operating profit decreased by 4 billion yen to 14.04 billion yen. Sumitomo Light Metal Industries posted record recurring profit at 8.15 billion yen in the first half thanks to Australian smelting subsidiary compared with 6.06 billion yen of recurring profit in same period of 2006. Furukawa-Sky Aluminum posted 6.51 billion yen of operating profit in the first half compared with 7.62 billion yen in same period of 2006. The firm reported around 28% lower plate sales and 10% lower foil sales.
Japan Steel Scrap Composite Prices (Sangyo Press)
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