Japan Steel Works, Japanese major special steel processer, and Marubeni-Itochu Steel, Japanese major steel trading house, announced on Wednesday the companies accepted an order for clad steel tube at about 15,000 tonnes from two European engineering enterprises. The contracted volume is world largest scale for clad steel tube. The contract value is US$ 250 million. Contracted clad steel tubes will be exported within this year. European engineering enterprises appraised quality of Japan Steel Works’ clad steel tube and past sales record of Marubeni-Itochu Steel.One contract is approximately 11,000 tonnes at US$ 150 million with Spanish oil engineering company, Tecnicas Reunidas. The other contract is approximately 4,000 tonnes at US$ 100 million with Italian oil engineering company, Saipem. Clad steel tube for Tecnicas will be used for 50-kilometer-long gas pipe line of Shah gas project developed by ADNOC, UAE national oil company. Clad steel tube for Tecnicas will be used for 33km long gas pipe line of Wasit gas project developed by Saudi Aramco, Saudi Arabia national oil company. Aramco adopts clad steel tube for the first time. Clad steel tube is the high end product, consisted of metal-joined carbon steel and alloy steel. Cald steel tubes are mainly used for natural gas pipe lines. Japan Steel Works holds the largest share of clad steel tube in the world. Japan Steel Works and Marubeni-Itochu Steel aim to expand the sales of clad steel tube worldwide when the demand is expected to increase in Middle and Near East, Australia and Europe.
Japan Steel Scrap Composite Prices (Sangyo Press)04/19/2018
|32800YEN (-)||36800YEN (-)|
|302.33US$ (-0.81)||339.2US$ (-0.91)|
* Average of electric furnaces steel maker's purchasing price in Tokyo, Osaka and Nagoya (per ton)