JFE Steel announced on Monday the Chinese silicomanganese making joint venture, Inner Mongolia Erdos EJM Manganese Alloys held opening ceremony on Friday. The joint venture plans to double the capacity to 150,000 tonnes depending on the market after starting up of the commissioned first phase with annual 75,000 tonnes of output capacity. JFE Steel imports most of the production from the first phase operation and secures most of the annual 80,000 tonnes of the group’s requirement. JFE Steel finished the series of actions to improve stables procurement of ferroalloys including ferrosilicon and vanadium. Chinese ferroalloy major, Erdos Electric Power & Metallurgy controls 51% of the joint venture with 24.5% share by JFE Steel and Mitsui & Co. each. The joint venture started the first phase operation with 2 closed electric furnaces with 25,500 kilovolt ampere of capacity each. The firm starts commercial operation in August and increases the output to the full capacity in 3 months. The firm plans to produce 40,000 tonnes for the year to March 2007 and operates at full capacity in and after the year ending March 2008.
Japan Steel Scrap Composite Prices (Sangyo Press)
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