Sumitomo Metal Industries announced on Thursday the firm focuses on the quality and seeks sustainable growth under the new 3-year plan to fiscal 2008 ending March 2009. The firm will expend 480 billion yen for the 3 years compared with 320 billion yen for 3 years to fiscal 2005 to shift higher grade products, to focus on products with advantage and to improve competitiveness. The firm targets 290 billion yen of consolidated recurring profit and 60% of debt equity ratio for fiscal 2008. The firm estimates the raw steel output is annual 14 million tonnes for the 3-year plan. The firm tries to increase sales of strategic products with less volatility in price including high-grade plate, special steel, seamless pile and parts of railway, automobile and machinery. The firm increases the profit of strategic products from 70% of total consolidated operating profit in fiscal 2005 to 80% in fiscal 2008. The firm expands the seamless pile sales from 1.1 million tonnes to 1.2 million tonnes. The firm expends 480 billion yen including 29 billion yen for relining of no.3 blast furnace at Kashima works, 25 billion yen for new continuous galvanizing line, 7 billion yen for expansion of high-grade plate, 57 billion yen for independent power producer business, 160 billion yen for blast furnace, coke oven, sinter plant and other upper stream operations at Wakayama works, 40 billion yen for expansion of seamless pipe and 20 billion yen for modernization of steel making process at Kokura works in the 3-years.
Japan Steel Scrap Composite Prices (Sangyo Press)02/02/2023
|50400YEN (-)||51700YEN (-)|
|389.19US$ (4.16)||399.23US$ (4.27)|
* Average of electric furnaces steel maker's purchasing price in Tokyo, Osaka and Nagoya (per ton)