Nippon Steel & Sumitomo Metal and Sumitomo Pipe & Tube announced on 26th they struck a contract for share exchange between two companies after resolution for share exchange in each board meeting. Nippon Steel & Sumitomo Metal is the Wholly Owning Parent Company, and Sumitomo Pipe & Tube is Wholly Owned Subsidiary Company. And, Nippon Steel & Sumitomo Metal, Sumitomo Pipe & Tube and Nittetsu Steel Pipe struck a basic agreement to reorganize electric resistance welded steel pipe business after Sumitomo Pipe & Tube and Nittetsu Steel Pipe will merge in October 1st 2013. The joint firm’s name is planned to be “Nippon Steel & Sumikin Steel Pipe”.
Japan Steel Scrap Composite Prices (Sangyo Press)05/29/2020
|20400YEN (200)||22800YEN (300)|
|187.97US$ (2.51)||210.08US$ (3.51)|
* Average of electric furnaces steel maker's purchasing price in Tokyo, Osaka and Nagoya (per ton)