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Chinese steel giant plans to build steel JV in U.S.

BEIJING, May 17 (Xinhua) -- Anshan Iron and Steel Group Corp., a conglomerate based in Anshan, northeast China's Liaoning Province, and the Steel Development Company, of the United States, have signed a memorandum of understanding on jointly investing in a deformed steel bar ...

Wisco develops deepwater pipeline steel

Wisco and Panyu Zhujiang Steel Pipe have jointly developed deepwater pipeline steels that will be used by a gas pipeline project in the South China Sea. The deepest section of the project is 1,500 m below seal level.

Shougang to close Beijing operations

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Pangang Group Steel V&T returns to profitability

Pangang Group Steel Vanadium and Titanium posted a net profit of some 550 million yuan in the first half of this year, compared with a loss of 1.3 billion yuan in the same period last year.

Wisco develops deepwater pipeline steel

Wisco and Panyu Zhujiang Steel Pipe have jointly developed deepwater pipeline steels that will be used by a gas pipeline project in the South China Sea. The deepest section of the project is 1,500 m below seal level.

Jinan Steel accomplishes H1 production goal

In the first half of this year, Jinan Steel produced 5.09 million tons of crude steel, up 2.23 percent from a year earlier; 4.74 million tons of pig iron, up 1.26 percent; 5.38 million tons of steel products, up 9.27 percent; had revenues of 17 billion yuan; and exported 367,700 ...

Hangzhou Steel's H1 profits up sixfold

Hangzhou Steel expected its net profits in the first half of this year to rocket by 550 percent to 600 percent from 23.77 million yuan during the corresponding period last year when the company had earnings per share of 0.03 yuan.

Shagang secures long-term pellet contract

Shagang has signed a contract to purchase about three million tons of premium pellet from Switzerland-registered FERREXPO in the next ten years starting on April 1, 2010. FERREXPO produced nine million tons of pellet last year, 90 percent of which was sold in the overseas market.

Bayi Steel produces 3.26 mln tons of steel in H1

Baosteel Xinjiang Bayi Steel produced 3.26 million tons of steel and 2.95 million tons of pig iron in the first half of this year, outperforming the original production targets.

Shougang signs merger deal with Tonghua Steel

Shougang has agreed to pay 2.5 billion yuan in cash to buy part of shares of Tonghua Iron and Steel Group from the State-owned Assets Supervision and Administration Commission of Jilin Province and to add capital to the group. This done, Shougang will hold up to 77.59 percent of ...

Xinyegang Steel s H1 profits surge

From January to June of 2010, Hubei Xinyegang Steel s output of crude steel, pig iron, coke and tube was up 19.81 percent, 7.95 percent, 6.11 percent and 29.43 percent, respectively, from a year earlier. Its after-tax profits sharply jumped by 112.53 percent year-on-year. The ...

Tianjin Bohai Steel Group opens

Tianjin Bohai Iron and Steel Group was officially opened for business on July 13. Its four shareholders are: Tianjin Steel Pipe, China's largest OCTG casing production base; Tianjin Tiantie Group, a producer of hot rolled coil, medium plate and rebar; Tianjin Metallurgy Group ...

Baosteel may become Nissan's global supplier

Baosteel said Japan's Nissan Motor has begun rating its performance as a supplier, indicating the carmaker's readiness to designate the Chinese steelmaker as one of its global metal sheet suppliers. This will also clear the way for Baosteel, currently a licensed supplier to joint ...

Jiuquan Steel completes energy-saving goal

Jiuquan Steel has completed its energy-saving goal required by the Gansu government by saving 475,700 tons of standard coal during the 11th Five-year Plan (2006-01). The company s headquarters has so far this year kept its consumption of standard coal at 649.5 kg per ton of steel...

Wisco acquires Australian iron ore mining rights

Wisco has completed a joint venture with Australian CXM to develop an iron ore mine on South Australia's Eyre Peninsula. WISCO paid A$51.5 million to CXM for mineral exploitation rights and another A$50 million to the joint venture to cover the cost of the first-phrase exploratio...

Shougang to set up processing center

Shougang has agreed to set up a flat product-dominated processing center in Jiujiang to better serve the household appliance and auto sectors in the Pearl River Delta. The project will have a capacity of 300,000 tons.

Baosteel's second CSR released

Baosteel Group released its second Social Responsibility Report that explains its social responsibility performances in the spheres of value creation, honesty, environment upgrading, staff, communities and supply chains at its seven business sectors such as steel, resources, ...

Baosteel to set up first auto steel lab

Baosteel is ready to establish a country-level lab for the research and application of auto steel. The lab will conduct a series of experiments on shape-forming, welding, metal surface cladding, corrosion resistant and protective technologies.

Wisco acquires shares of coal mine in Mozambique

Wisco acquired a 40 percent stake in the Zambeze coal mine in Mozambique for $800 million from Australian miner Riversdale. In addition, Wisco purchased a stake of 8 percent in Riversdale for A$10 per share. According to the agreement, Wisco has the right to purchase 40 percent ...

Benxi Steel becomes largest steel exporter

Benxi Steel became China's largest exporter of high value-added steel products in the first five months of this year. The company exported 798,400 tons of steel during that period, including 13,000 tons of X46 pipeline steel to Australia, 20,000 tons of X56 and X60 pipeline steel ...
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