JFE Shoji Trade America Takes Stake in California Scrap Dealer

The Japanese company JFE Shoji Trade Corp., through its JFE Shoji Trade America Inc., subsidiary, has acquired an 8 percent stake in California-based Advanced Steel Recovery LLC (ASR). The company will operate the facility under JFE’s ferrous raw materials department, which deals primarily in ferrous scrap mainly derived from Japanese factories.

JFE Shoji Trade Corp.'s ferrous raw materials department has been designed to supply a steady supply of ferrous scrap to JFE Group’s Japanese facilities. The company handles around 3 million tons of metal per year, with the majority of the collected and processed scrap being shipped to Korea and China.

According to JFE , the acquisition of an equity stake in ASR allows it ferrous raw material department to expand its supply sources and to obtain a growing demand for ferrous scrap in Asia through intermediate trade.

ASR has been actively involved in the shipment of containerized ferrous scrap. ASR owns "FASTek," the company’s patented container-loading system for bulk materials.