Japanese 5 listed aluminium re-rollers enjoyed sharp sales and profits recovery in the first half of fiscal 2010 (April-September 2010) compared with the same period of fiscal 2009. Demand for aluminium rolled products strongly recovered from automobile and electric appliance markets. Every re-roller forecasts market slowdown in the second half year and estimates annual profit would become 1.3-1.8 times of the first half year.
All of the 5 re-rollers posted losses in the first half of fiscal 2009 due to serious market downturn. For April-September 2010, every re-roller posted year-on-year higher sales and profits. The 5 re-rollers’ profits represented even higher than the results in the first half of fiscal 2008. The market trend was that the sales slightly decreased for can materials while strongly recovered for aluminiuma rolled products for automobiles, semiconductor and liquid crystal panel manufacturing equipments, and electric appliances. The sales returned to 80% level of the peak. Each company’s cost cut efforts also contributed to profit improvement. The market condition is unclear in the second half year. All of the 5 re-rollers forecast lower sales and profits in the second half of fiscal 2010 than in the first half year. Sumitomo Light Metal Industries estimates the sales volume (plate and the subsidiary’s products) decreases by 4.1% year-on-year in the second half year. Kobe Steel estimates the sales volume of rolled aluminium products decreases by 7%. Nippon Light Metal’s sales volume is estimated to decrease by 2.8%. Furukawa-Sky Aluminum plans sales volume down by 5.8%.Japan Steel Scrap Composite Prices (Sangyo Press)
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