Stainless major, Acerinox of Spain’s CEO Bernardo Vel?zquez said to reporters on Thursday in Beijing the firm intends to add steel making ship at Malaysian cold rolling joint venture with Nisshin Steel depending on market situation. The firm could launch the upstream operation at the joint venture, Bahru Stainless around 2020. He said the firm tries to develop the integrated stainless making plant in Malaysia as plants in Spain, USA and South Africa.Mr. Vel?zquez said the US unit of North American Stainless (NAS) took 12 years to add steel making shop from the beginning of the cold rolling operation. He said Bahru Stainless established in 2008 could launch steel making shop by 2020. He said the firm studies the upstream investment when the firm secures financial and technical support from Spain plant, NAS and South African unit of Columbus Stainless and Nisshin Steel. The firm tries to cover growing demand in Southeast Asia through Bahru Stainless. Bahru Stainless makes mainly high valued products including special grade ferrite stainless and automotive exhaust grade products. Bahru Stainless established annual 240,000 tonnes of production capacity in 2011. The firm expands the cold rolling capacity to 400,000 tonnes by March 2013 along with annealing and pickling line and electric substation for future upstream operation. Acerinox controls 67% of Bahru Stainless with 30% share by Nisshin Steel and 3% share by Metal One Corporation.
Japan Steel Scrap Composite Prices (Sangyo Press)09/24/2020
|26600YEN (-)||28600YEN (-)|
|249.88US$ (-0.73)||268.67US$ (-0.79)|
* Average of electric furnaces steel maker's purchasing price in Tokyo, Osaka and Nagoya (per ton)