Japanese major steel trading firm, Marubeni-Itochu Steel announced on Monday the firm opens office in Yangon, Myanmar. The office is first office in the country for Japanese steel specialized trader. Asia-Pacific regional headquarters in Singapore opens the office after approval from local authority.Many offshore companies seek potential operation for construction, resources, energy, steelmaking plant, automobile and home appliance in the democratizing country. The office tries to supply local information and service for the users to realize the business expansion in the country. The office will start the operation with three employees including one Japanese manager and two staffs. Marubeni-Itochu Steel kept resident officer in Yangon for operation of hot-dip galvanized steel processing company, Myanma Steel Industries even under economic sanctions. The new office utilizes existing business base to provide better service. Myanma Steel Industries with US$ 4.259 million of capital was established in March 1997. The firm with one galvanizing line and two corrugation machines supplies corrugated galvanized steel for local users.
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)