Latest news with #MarubeniCorp
New Straits Times
6 days ago
- Business
- New Straits Times
Global aluminium producer slashes premium offer to Japan buyers, say sources
TOKYO: A global aluminium producer has offered Japanese buyers a premium of US$145 per metric ton for July-September primary metal shipments, down 20 per cent from the current quarter, two sources directly involved in quarterly pricing talks said on Thursday. The lower offer reflects weak sentiment, driven by uncertainty over demand because of US tariffs and increased supply to Asia due to falling overseas premiums, the sources said. Japan is a major Asian importer of the metal and the premiums for primary metal shipments it agrees to pay each quarter over the London Metal Exchange (LME) cash price set the benchmark for the region. For the April-June quarter, Japanese buyers agreed to pay a premium of US$182 per ton , down 20 per cent from the prior quarter. "Some buyers are reducing purchases due to the uncertain outlook for automobile production and other demand impacted by US tariffs," a source at an aluminium producer said. "Meanwhile, some supplies, including those from the Middle East, are shifting from Europe to Asia in response to declining premiums in Europe, easing the supply-demand balance," he added. Still, buyers see the offer as too high, with the current spot premiums down to US$110-US$120 per ton, according to another source at an end-user. "There is a gap between the offer and buyers' expectations, which are around the US$100-US$110 level," the source said. Aluminium stocks at three major Japanese ports rose to 320,300 tons at the end of April, up about 3.40 per cent from the previous month, Marubeni Corp said earlier this month. The quarterly pricing negotiations began late last week between Japanese buyers and global suppliers, including Rio Tinto and South32, and are expected to continue until later next month.
Bloomberg
22-05-2025
- Business
- Bloomberg
Buffett's Successor Abel Met With Japan's Trading Houses
Berkshire Hathaway's next chief executive Greg Abel met with Japan's biggest trading houses this week in Tokyo, adding to signs the company is committed to holding their shares. Abel met with executives at Mitsubishi Corp., Marubeni Corp., Mitsui & Co., Itochu Corp. and Sumitomo Corp., the companies said in response to queries from Bloomberg. The Nikkei newspaper reported the meeting earlier.
08-05-2025
- Business
Marubeni to Join Exxon Mobil's Hydrogen, Ammonia Project
News from Japan Economy May 8, 2025 19:06 (JST) Tokyo, May 8 (Jiji Press)--Major Japanese trading company Marubeni Corp. said Thursday that it will participate in a project by U.S. oil giant Exxon Mobil Corp. to produce low-carbon hydrogen and ammonia. The project in Texas will feature the world's largest plant of its kind when it begins operation in 2029. It aims to annually produce about 900,000 tons of hydrogen and 1 million tons of ammonia from natural gas. About 98 pct of the carbon dioxide emitted during production will be captured and buried. About 250,000 tons of ammonia from the project will be supplied to Japan annually, including to Kobe Steel Ltd. Marubeni has not disclosed the amount of its investment in the project. [Copyright The Jiji Press, Ltd.] Jiji Press
Japan Today
27-04-2025
- Automotive
- Japan Today
'Flying car' demos at Osaka Expo halted after part falls off in mid-flight
A Hexa flying vehicle demonstration is held at the World Exposition in Osaka on April 14. Demonstrations of one of the "flying cars" at the World Exposition in Osaka have been suspended for safety checks after a part fell from a vehicle mid-flight but with no injuries reported, the event's organizing body said Sunday. With other flying vehicle operators yet to finalize their schedules for public showcases at the six-month event, demonstration flights at the expo will be suspended until their safety is confirmed. According to the Japan Association for the 2025 World Exposition, on Saturday afternoon a part of a motor propeller fell mid-flight from a Hexa single-seater electrical vertical take-off and landing vehicle developed by U.S. firm Lift Aircraft Inc. and operated by Japanese trading house Marubeni Corp. The aircraft was flying above the expo's takeoff and landing area and landed safely. An investigation into the cause is ongoing. Four operators initially aimed for commercial flying taxi to provide access to the event's venue on Yumeshima, an artificial island in Osaka Bay. But all the operators later gave up on carrying passengers in their electric aircraft due to safety challenges. The Osaka expo opened to the public on April 13 and will run through Oct. 13. © KYODO
Kyodo News
27-04-2025
- Automotive
- Kyodo News
"Flying car" demos at Osaka Expo halted as part falls mid-flight
KYODO NEWS - 6 hours ago - 19:16 | All, Japan, Expo Demonstrations of one of the "flying cars" at the World Exposition in Osaka have been suspended for safety checks after a part fell from a vehicle mid-flight but with no injuries reported, the event's organizing body said Sunday. With other flying vehicle operators yet to finalize their schedules for public showcases at the six-month event, demonstration flights at the expo will be suspended until their safety is confirmed. According to the Japan Association for the 2025 World Exposition, on Saturday afternoon a part of a motor propeller fell mid-flight from a Hexa single-seater electrical vertical take-off and landing vehicle developed by U.S. firm Lift Aircraft Inc. and operated by Japanese trading house Marubeni Corp. The aircraft was flying above the expo's takeoff and landing area and landed safely. An investigation into the cause is ongoing. Four operators initially aimed for commercial flying taxi to provide access to the event's venue on Yumeshima, an artificial island in Osaka Bay. But all the operators later gave up on carrying passengers in their electric aircraft due to safety challenges. The Osaka expo opened to the public on April 13 and will run through Oct. 13. Related coverage: World Expo in Osaka tops 1 mil. visitors in first 13 days Organizers, visitors bracing for hot weather at Osaka World Expo Osaka Expo draws 119,000 visitors on opening day amid rain
