Nippon Metal Industry announced on Monday the firm reached basic agreement with Thai stainless coil center, Jutha Wan Metal of Thailand and spring sales company, Taiyo Stainless Spring (Thailand) to launch Thai joint venture for precise rolled stainless products sales in Bangkok. They try to establish the joint venture with 7 million baht in September. Nippon Metal Industry expands the sales in Southeast Asia through the 4th offshore base after Singapore, Malaysia and Taiwan.
Nippon Metal Industry and Jutha Wan Metal have 47.5% share in the joint venture, NTK-Jutha Wan Metal with 5.0% share by Taiyo Stainless Spring (Thailand). Nippon Metal Industry expects the joint venture will sell the precise rolled products when Nippon Metal Industry targets 2,000 tonnes per month of the precise rolled products sales in fiscal 2012. Nippon Metal Industry’s move is a part of efforts to follow growing demand in Asia by Japanese stainless steel makers. Nisshin Steel already launched Singapore based sales company in January. Nippon Yakin Kogyo launched US new company in Chicago in November 2010. Nippon Steel & Sumikin Stainless Steel established Chinese second business base in October 2010. Japanese stainless makers try to compete with rivals of China and other emerging countries through the wider offshore activities. An official of Japanese maker said Japanese makers cannot compete with cheaper products by Asian rivals in commodity grade products. Japanese makers try to shift higher grade products to survive in the competitive market.Japan Steel Scrap Composite Prices (Sangyo Press)
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