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Tokyo Steel tapping Chinese potential as steel scrap supplier
Nikkei reported that Tokyo Steel Manufacturing, Japan's largest independent maker of electric-furnace steel, has begun importing scrap iron from China, expecting the country to become a key supplier. Between May and June, the company bought about 3,000 tons of scrap for its plant in Kitakyushu, Fukuoka Prefecture, on the southern island of Kyushu, on a trial basis. It is believed to be the first major Japanese electric-furnace steelmaker to import scrap iron from China. Most Japanese producers obtain scrap metal from domestic sources.
Tokyo Steel unloaded about 850 tons of scrap in mid-May, and more than 2,000 tons on June 2, from a cargo ship docked near the plant. The Kitakyushu plant produces H-beams, heavy plates and other construction materials.
According to a company spokesman, the procurement cost did not differ significantly from that procured domestically. The company will check the quality of the Chinese scrap iron before increasing imports from the country.
Although the Kitakyushu plant was selected for the trial run because of its proximity to China, Tokyo Steel is seeking to do the same at other plants -- one in Tahara, Aichi Prefecture and another in Kurashiki, Okayama Prefecture.
The Chinese government is trying reduce excess steel production. This has created a glut of scrap, leading steel producers to export it.
Source : Nikkei