Sumitomo Corp announced on 14th the firm establishes a joint venture, secondary processing company of steel bar and wire rod, in the state of Maharashtra, India, with Mukand which is a major special steel maker in India. The venture will take Mukand’s secondary processing business of steel bar for 2.525 billion rupee and start this October. Mukand has a 60% share and Sumitomo Group has a 40% share. The venture is the first Japanese affiliated company in the secondary processing business of steel bar in India. The venture keeps pace with increasing demand of special steel products for automobile parts, in expanding car lineup in India by world’s automobile makers.
Japan Steel Scrap Composite Prices (Sangyo Press)07/08/2020
|22100YEN (-200)||24200YEN (-100)|
|203.33US$ (-2.58)||222.65US$ (-1.73)|
* Average of electric furnaces steel maker's purchasing price in Tokyo, Osaka and Nagoya (per ton)