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Jinan Steel signs cooperation deal

The launch in June 2009 of a laboratory established in Shandong by the US-headquartered Rockwell Automation (China) has enabled both Jinan Steel, one of China's ten largest steelmakers, and now under the control of Shandong Iron and Steel Group, to better access to services ...

Daya Special 09 net profit up

Daye Special Steel, a subsidiary of CITIC Pacific, posted an attributable net profit of 333 million yuan in 2009, up 65.67 percent. It produced 1.08 million tons of steel, up 9.75 percent; 1.11 million tons of steel products, up 8.58 percent, sold 1.10 million tons of steel ...

Wisco moves to overall listing

Wisco general manager Deng Qilin said the company will absorb the steel assets in Echeng Steel in the first half of this year as a first step toward its overall listing program, then extract relevant assets of Liuzhou Steel and Kunming Steel to finalize its ambition.

Shougang has gained support from the Liaoning Province to develop ferro-boron resources in Dandong City, Liaoning.

Shougang has gained support from the Liaoning Province to develop ferro-boron resources in Dandong City, Liaoning.

Shandong Steel knits sales networks

March 11 with Japan's largest steel distributor Metal One to look at ways of building an efficient sales network in China for its 30 million tons per year of steel capacity. Shandong Steel has agreed on preferred sales of hot and cold rolled coil, medium plate and section to ...

CITIC Pacific to expand steel capacity

CITIC Pacific, a diversified entity focusing on three main businesses such as special steel, iron ore and real estate, returned to gains last year by posting an attributable profit of HK$5.95 billion. The company runs three special steel plants Shijiazhuang Steel, Jiangyin ...

Ansteel to step up restructuring

Ansteel general manager Zhang Xiaogang disclosed that the company will take a big step in the next three months toward its inner structural adjustment plan including a possible massive merger that would cover assets in places beyond northeastern China. He admitted the growth rate ...

Wisco to open New York branch

Wisco America Co Ltd will set up a new office in New York to serve its goal of introducing new energy and technologies and adding value to trade and services. The decision came after Wisco established overseas branches in Los Angeles and Canada in 2008.

Baosteel: one of the most respected metal firms

Baosteel ranked sixth among metal producers in a Forbes' poll of the World's Most Respected Firms. Among the top ten metal firms also included Alcoa, ArcelorMittal, ThyssenKrupp, Nippon Steel, Posco, Nucor, JFE Holdings, Tata Steel and Minmetals, which were compared in innovation...

Valin Steel s 09 net profits plunge

Valin Steel posted an operating revenue of 41.50 billion yuan last year, down 26.31 percent from 2008; a net profit of 120 million yuan, down 87.4 percent and earnings per share of 0.0438 yuan, down 87.42 percent. Valin blamed the decline on weak demand, falling finished steel ...

Shougang rolls out large coil wire

For the first time in China, Shougang High-speed Wire Rod plant developed large coil wire B7 and SCM435 for high strength standard parts.

Fangda Special drops equity buying plan

Fangda Special Steel has abandoned a plan to purchase shares both of Anshan Annan Minerals Co Ltd, which owns exploration permits on an iron ore mine in Haicheng, Liaoning with a reserve of 25.82 million tons and a Fe grade of 32.93 percent, and of Shenyang Xingjiang Investment ...

MIIT warns excess reliance on imported iron ore

The MIIT issued a warning to domestic steel industry to reduce the use of imported iron ore. China imported 75 percent of global seaborne iron ore trade last year. With an external dependence ratio of nearly 70 percent 13 percentage points higher than the previous year, China is ...

Hebei Steel takes over Shijiazhuang Steel

State-owned Hebei Iron and Steel struck a frame deal on March 19 to purchase 80 percent of Shijiazhuang Steel from CITIC Pacific for 1.9 billion yuan. Of the transferred shares, 65 percent is owned by CITIC and 15 percent comes from Zhongfu Investment, run by executives and ...

Nanjing Steel's net profit up 13 percent

Nanjing Steel said in its annual report that the mill had an operating income of 23.30 billion yuan last year, down 17.81 percent; a net profit of 138 million yuan, up 13.76 percent and earnings per share of 0.08 yuan. In 2009, Nanjing Steel produced 5.50 million tons of crude ...

Guangzhou Steel to build logistics center

Guangzhou Steel has concluded a treaty with Guangzhou Port Group to build a modern logistics center in Nansha, close to its several high-end steel projects including a hot dip galvanized steel and a 1.8 million t/y cold rolled project, with multiple functions such as storage, ...

Fangda Special rakes in iron ore assets

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Bayi Steel's 09 profits up

Bayi Steel reported a net profit of 110 million yuan in 2009, up 6.05 percent from the previous year; an operating revenue of 16.45 billion yuan, down 17.88 percent and earnings per share of 0.14 yuan, the same as 2008. The rise in profits was due to the mill's adoption of ...

Hangzhou Steel's 09 net profits triple

Hangzhou Steel posted an operating revenue of 15.71 billion yuan in 2009, down 28.78 percent year-on-year, a net profit of 147 million yuan, up 300 percent and earnings per share of 0.17 yuan, up 325 percent. Hangzhou Steel produced 2.61 million tons of pig iron last year, 3.46 ...

Xinyu Steel sees 09 net profits down

Last year Xinyu Steel, Jiangxi produced 6.28 million tons of pig iron, up 38.05 percent; produced 6.71 million tons of crude steel, up 26.19 percent and 6.35 million tons of steel products and billet, up 29.35 percent. The mill had an operating revenue of 21.84 billion yuan, down ...
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