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Guangzhou Steel reports H1 profits

Guangzhou Steel had a net profit of 46.42 million yuan in the first half of this year, compared with a loss of 28.25 million yuan a year earlier; revenues of 3.18 billion yuan, up 16.11 percent; and earnings per share of 0.061 yuan, versus a loss of 0.037 yuan.

Ansteel boosts iron ore self-sufficiency

With production of a depleting open-pit iron mine owned by Ansteel switching to the underground production mode, Ansteel will increase its iron ore autarky ratio from 50 percent to 80 percent. The group is investing 393 million yuan to turn the Yanqianshan Iron mine into an ...

Baosteel agrees on coal partnership

Baosteel Resources, a wholly-owned mining, trade and logistic services subsidiary of Baosteel Group, and Hebei-based Jizhong Energy Fengfeng Group have signed a framework agreement to jointly develop a new coal mine in the west of Cixian County, Handan. The mine, bounded on the ...

Baosteel Wins Tender for Oil Reserve Program

Baosteel has received an order to supply steel plate used for making 20 oil tanks, each with a volume of 100,000 cubic meters, as well as for the roof of 12 other tanks as part of the Beihai Commercial Crude Oil Reserve Program undertaken by Sinopec Group. The project requires ...

Hebei Steel Produces Nuclear Steel

The delivery on October 7 of nearly 6,000 tons of high-grade nuclear steel made by Wuyang Steel, a production unit of Hebei Iron and Steel Group, ended China's entire reliance on the foreign supply of such products. This has also made Wuyang Steel China's first producer of a ...

Baosteel's 9-month Net Profits Soar

Baosteel forecast a rise of between 170 percent and 190 percent in its net profits in the first three quarters of this year over the corresponding period of 2009, beating the previous expectation of up to 160 percent in its half-year report. The steel company attributed the surge ...

Stainless Project Reaches Full Capacity

A stainless project owned by Jiuquan Steel produced 51,000 tons of steel in September, hitting its normal capacity three months ahead of schedule. The project can make 600,000 tons per year of stainless billet covering 200, 300 and 400 series brands.

Xinxing Ductile Pipe Joins Canadian Ore Company

Xinxing Ductile Iron Pipes has formed a joint venture with Canada's Advanced Explorations to develop the proposed Roche Bay magnetite mine in Nunavut, located on the north coast of Canada. Xinxing Ductile and China Huaxin International will also acquire 19 percent of Advanced ...

CRM Cooperates with Steel Mills

China Railway Materials (CRM) has agreed with Xinyu Steel upon strategic cooperation in the fields of steel trade, new products development, raw materials supply, marketing networks and railway services. CRM has also promised to strengthen its relationship with the municipal ...

Baosteel BAC Honored

After Baosteel successfully held three sessions of its Biannual Academic Conference, Baosteel BAC has been included in key international conference list of ISSI, Worldsteel and VDEH. Themed as green steel, better life , the 4th Baosteel BAC will be held from November 16 - 18 this ...

WISCO Excels at Non GO Silicon Steel

WISCO has succeeded in developing a new type of non grain oriented silicon steel with a proprietary technology and won an order from the world's largest compressor manufacturer. Production of new materials has accounted for a third of the company's total silicon steel output ...

Hebei Steel, Shougang Cut Their Prices

Hebei Steel is among one of the 20-plus domestic steel mills that have cut their prices over the past two days. On September 26, it announced a plan to lower its wire rod price by 50 yuan per ton and rebar price by 100 yuan. Similarly, Shougang also decided to cut the prices of ...

Baosteel Works on Lighter Auto Steel

Baosteel and SAIC Motor Corp have agreed to set up a laboratory, working on the development and application of technologies that can make auto steel thinner and stronger. Reducing vehicle weight has become an important subject for a sustainable auto industry in China, the largest ...

Baosteel Expands Capacity for Exports

Baosteel said it will try to export more than 10 percent of its steel output this year with high-end sheet accounting for a greater part (more than 50 percent). In the first half of this year, the company exported 40.12 percent of unique and highly competitive products. And 31.17 ...

Shougang Beijing Branch Aims for Top Five

As a sole premium steel project retained in Beijing, Shougang CR Sheet Company is striving to be among the five most sophisticated steelmakers in China by the end of this year. The Shunyi-based company mainly produces high grade steel for the auto, home appliance and construction ...

Guangzhou Steel Relocation Confirmed

Guangzhou Steel has decided to transfer the capacity of its Baihedong Workshop to the Zhanjiang Steel Project, a giant steel complex initiated by Baosteel. Besides, Guangzhou Steel has eliminated all of its old capacity in a bid to promote Baosteel's reconfiguration of Guangzhou ...

Ansteel's US Investment Plan Continues

Ansteel is about to enter into a deal to invest $175 million in a US mill, Zhang Xiaogang, Ansteel general manager, said on the sideline of the Summer Davos forum. With that investment will follow the Chinese mill's acquisition of less than 20 percent of shares in the latter. ...

Ansteel Strikes Deal for Stake in US Mill

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Old Facility Gives Way to New Site

Handan Steel, a subsidiary of Hebei Iron and Steel Group, is about to shut down a 900-cubic-meter blast furnace, a move that will clear way for the construction of Hanbao New Area. Other major mills in the Tangshan region such as Fengfeng Group and Xinxing Ductile Pipe are also ...
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