Japanese major stainless steel maker, Nippon Metal Industry establishes precise rolled stainless steel trading joint venture in Taiwan with Taiwanese stainless strip re-roller, Jie Jin Material Science Technology and Japanese major steel trade firm, Marubeni-Itochu Steel, announced on Thursday. The joint venture is established in December to increase Nippon Metal Industry’s shipment to Asia including China. Nippon Metal Industry aims to increase the precise rolled stainless steel shipment to 2,000 tonnes per month from current 1,400 tonnes. The joint venture is Nippon Metal Industry’s fourth overseas sales force after Singapore, Malaysia and Thailand.
Nippon Metal Industry controls 48.6% share in the venture with 91.3 million New Taiwan dollars with 36.5% share by Jie Jin Material Science Technology and 14.9% share by Marubeni-Itochu Steel. The venture exports precise rolled stainless steel to Asia including China, which is rolled by Jie Jin Material Science Technology from Nippon Metal Industry’s mother material produced in Kinuura works, Japan. Jie Jin Material Science Technology has facilities and technology required to make precise rolled stainless steel. The firm can make electronic material and ultra thin stainless with 0.05 millimeters thick. Nippon Metal Industry chose Jie Jin Material Science Technology as the partner to utilize the technology and location advantage in southwestern Taiwan for export to Asian countries. Nippon Metal Industry aims to increase sales rate of high value added products to more than 50% of the total sales by fiscal 2012 ending March 2013 from 42% in fiscal 2009.Japan Steel Scrap Composite Prices (Sangyo Press)
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