Japanese major 4 light metal rerollers posted higher consolidated sales for April-June from same period of 2005. Three of them reported higher operating profit other than Furukawa-Sky Aluminum. They expect higher profit for the full year from previous year when the domestic demand is expected to keep firm mainly for automobile.The results in April-June improved from same period of 2005 after the drop in 2005 from 2004. They enjoy the favorable market condition when the demand was lifted by automobile while the demand recovers for information technology. Nippon Light Metal expects the net profit will increase to 12 billion yen for the full year to March 2007 from previous year. The firm posted higher sales and profit for sheet and extrusion unit and ingot and chemicals unit for April-June from same period of 2005 despite of higher ingot price and raw materials cost while the building materials unit posted lower profit. Kobe Steel’s copper and aluminium unit enjoyed firm demand for aluminium substrate for magnetic disc and plate for equipment to make crystal liquid and semiconductor. The higher price of aluminium and copper lifted the profit by 4 billion yen under the gross average method of inventory valuation. Sumitomo Light Metal Industries improved the cost structure especially for depreciation and fixed cost. The offshore smelting subsidiary contributed to the higher profit under firm aluminium ingot market. Furukawa-Sky Aluminum enjoyed firm demand for automobile and plate products while the beverage can business faced slower demand under unfavorable weather. The firm expects higher profit for the full year to March 2007 from previous year despite of flat profit for April-June.
Japan Steel Scrap Composite Prices (Sangyo Press)03/30/2023
|52800YEN (-)||54000YEN (-)|
|395.36US$ (-3.79)||404.34US$ (-3.88)|
* Average of electric furnaces steel maker's purchasing price in Tokyo, Osaka and Nagoya (per ton)
- JMB Tieup company
- The Korea Metal Journal
- Steel on the net