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Steel Plates
Sumitomo Metals has continued to develop and sell high-grade steels unrivaled by other countries; fiscal 1993 also saw significant achievements. The Company sold its 60k and 80 k high tensile strength steel for penstock to the People's Republic of China for the Shihsanling hydroelectric power plant (3,2000 tons), to India for the KOYNA project (5,000 tons), and to TheChubu Electric Power Co., Ltd. in Japan for the Okumino power plant (600 tons).
Sumitomo shipped 25,000 tons of its low YR, X-65 steel to Iran's APM for large-diameter steel pipe. The Company received an order for about 5,000 tons of TMCP (thermomechanical control process) plates for the Sheel Mars tension leg platform in the Gulf of Mexico; shipment began at the end of the fiscal year.
For bridge construction Sumitomo developed a low-preheating-type 80 k high tensile strength steel; 11,400 tons have been ordered by the Honshu-Shikoku Bridge Authority for stiffening girders to be used in the Akashi Straits bridge, the world's largest suspension bridge. Finally, Sumitomo has begun manufacturing 9 % nickel plates, the highest grade of steel, for Osaka Gas Co., Ltd. to make tanks for storing LNG at low temperatures. Orders have been received also from The Chubu Electric Power Co., Ltd. (Kawagoe) and Nippon Gas Co., Ltd. (Kagoshima).
Tubes and Pipe
Steel tube and pipe sales in fiscal 1993 declined by 4 % compared to the previous year, with domestic sales falling by 6 % and exports by 3 %. The domestic market has been experiencing a downturn since the second half of 1991; sales of steel tubes and pipe have fallen in both quantity and value stocks were reduced.