Marubeni-Itochu Steel announced on 9th the firm agreed to get 100％ stock of Sooner Inc, the biggest oil well casings wholesaler in the United States, through Marubeni-Itochu Tubulars America, with OIS, a stock holder of Sooner Inc. Total cost for acquisition is around 600 million US dollers, it is the largest in Marubeni-Itochu Steel. Marubeni-Itochu Steel aims to increase business scale, and this acquisition double transaction volume of oil well casings in Marubeni-Itochu Steel group. Share in the world market will be over 10%.
Japan Steel Scrap Composite Prices (Sangyo Press)05/19/2022
|60500YEN (-1200)||64800YEN (-1100)|
|467.43US$ (-5.98)||500.66US$ (-4.98)|
* Average of electric furnaces steel maker's purchasing price in Tokyo, Osaka and Nagoya (per ton)