Tokyo based nonferrous distributor, Nakagawa Metal Co., Ltd. said the wholly owned subsidiary in Shanghai and Gulf Aluminium Rolling Mill Co. (GARMCO) of Bahrain established aluminium coil center in Shanghai. The joint coil center will supply processed products through the mass production operation with materials from GARMCO to meet growing local demand for light metal. The center tries to develop Eastern Chinese market processing annual 5,000 tonnes. They established the joint venture and started the operation in December 1, 2006 by changing name of Nakagawa Metal’s subsidiary. GARMCO controls 75% of the center with US$ 2.52 million of capital with 25% share by Nakagawa Metal. Nakagawa Metal’s Shanghai subsidiary provided only slit processing service for aluminium products. The new center will widen the processing operations to leveling, cutting, shearing, slitting of sheet and sawing of large diameter bar and plate. The center will keep distributing Japanese materials. The new center will provide the products for local plant of Taiwanese and Japanese users along with East Chinese users. Chinese aluminium demand is expected to keep growing rapidly, especially for building. GARMCO is established in 1981 by governments of 6 Middle East countries. The firm produces around 14,000 tonnes per month of products including aluminium sheet, strip and plate along with rolled products.
Japan Steel Scrap Composite Prices (Sangyo Press)
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