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Hebei Steel takes over Xuangong Holdings

Hebei State-owned Assets Holding and Operation Co Ltd has agreed to transfer 100 percent of shares it holds in Hebei Xuangong Machinery Development Co Ltd to Hebei Iron and Steel, one of the world's top 500 firms with a steel capacity of up to 31 million tons annually.

Shougang marches into auto parts industry

Shougang is endeavoring to include the auto parts industry as one of its bolstering fields of business. BWI, which is 51 percent owned by Shougang, generated $160 million in revenues in the first quarter after the company took over the suspension and braking units of Delphi in ...

Jinan Steel earns 204 mln yuan in May

Jinan Steel had a profit of 204 million yuan in May, an increase of 253 million yuan over the same period last year; obtained sales revenue of 2.73 billion yuan, up 220 million yuan; exported 50,600 tons of steel products valued at $36.08 million, up 3.58 times and 5.12 times ...

WISCO Develops Hot Forming Steel

WISCO has produced a kind of extra high-strength hot press forming steel for luxury cars. The steel made this time has low tensile strength when it is delivered to the carmaker for the ease of cutting and reshaping. But the steel will be hardened through special heat treatment ...

Meishan Steel test produces new steel

Meishan Steel has successfully test developed a new kind of cold rolled hot-dip galvalume steel (DC53D plus AZ) featuring deep drawing and ageing resistance. The product can be used to produce air conditioning motherboards, which are now much in demand.

Shuicheng Steel Loses 29.8 Million Yuan in July

In the first seven months of this year, Shuicheng Steel's revenue totaled 7.07 billion yuan and its profit amounted to 85.83 million yuan. However, the mill made a loss of 29.79 million yuan in July following a deficit in June. In July, the mill produced 267,000 tons of steel ...

WISCO's H1 Profits Up 90 pct

WISCO announced in its interim results the company had an operating profit of 1.29 billion yuan and a net profit of 963 million yuan in the first half of this year, both up nearly 90 percent from a year earlier. The report also warned the automobile, home appliance and real ...

Chongqing Steel Targets Shipbuilding Market

Chongqing Steel will turn itself into China's largest production base of shipbuilding steel by launching a 6.5 million t/y project in June next year. With the startup of a 4,100 mm wide heavy plate line, the mill is expected to be the top three makers of shipbuilding steel in ...

Hebei Steel H1 Profit Up 975 pct

Hebei Iron and Steel (Hebei Steel) reported a half-year profit of 720 million yuan, up 974.89 percent from a year earlier, as the Chinese largest steelmaker benefited from a nationwide sales recovery due to the reviving economy. The mill's revenues surged 43.43 percent to 58.69 ...

CHALCO Looks for Diverse Operations

A senior official from Aluminum Corporation of China Limited (CHALCO) said the state-owned company plans to diversify its portfolio beyond the aluminum sector in the next three years, and is ready to exploit the coal and iron ore markets. CHALCO is in talk about mining rights in ...

Baotou Steel H1 Profit Recovers to 374 Million Yuan

Baotou Steel fetched 374 million yuan in net profits in the first half of this year, compared with a loss of 748 million yuan in the same period last year, thanks to the reviving steel market. The company also clocked up 18.90 billion yuan in operating revenues, up 9.25 percent. ...

Shougang to Join Auto Company

Shougang Group said the company is planning to take over Beijing Auto Investment and set up an automobile joint venture Beijing Automobile Holdings Co., Ltd, in which it will take 18.31 percent of shares. The cooperation between the two companies can date back to 2003 when ...

Daye Special's H1 Profits Soar

It's reported that many listed Chinese steelmakers have so far seen their stock prices below their net assets. But Daye Special Steel, whose actual controller is CITIC Pacific Special Steel, bucked the trend by posting a year-on-year rise of 161.74 percent in net profit in the ...

Masteel Earns 1 Billion Yuan in H1

Masteel announced the company attained a net profit of 1.04 billion yuan in the first half of this year, compared with a loss of 795 million yuan a year earlier; and had operating revenues of 31.68 billion yuan, up 35.23 percent. Increased sales volume and higher selling prices ...

Shougang agrees on coal deal

Shougang International Trade and Engineering has agreed to buy 25 percent of Kailuan Dehua from Canadian Dehua International Mining Group (Dehua International) for $22.96 million, a bid that will clear way for a three-party investment in two coal mines in Canada by proportionatel...

Dagang trial runs beam blank casting machine

Dagang Group successfully hot ran a five-high five-strand beam blank continuous casting machine on August 11. The construction of the 34 million yuan project just took five months, far shorter than the average 12 months.

Baosteel's welded pipe tops a million tons

Baosteel's HFW welded pipe production has topped a million tons since a production line of 300,000 tons per year launched in October 2005. Dubbed as one of the world's most advanced pipe production lines, it can produce HFW welded pipe with a wall thick of 20 mm or above and ...

WISCO receives first iron ore shipment from MMX

A cargo of 162,000 tons of iron ore concentrates was discharged at the Beilun Port, Ningbo on August 8, marking the first shipment of iron ore received by WISCO from Brazil's EBX Group under an agreed treaty between the two sides struck on November 30, 2009. Besides, WISCO ...

Baosteel outperforms annual benefit goal

Of which, over 51 million yuan came from joint efforts with its subordinated units to develop new types of coal with high quality and low price, 12 million yuan from outsourcing more than 100,000 tons of cheap billet and 80 million-plus yuan from resources complementarity among ...

New Ansteel makes debut

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