Masteel to Benefit from Railway Wheel Market

Masteel, a leading domestic wheel steel producer, will be bracing a boom period as China has made the development of high-speed railway and urban rail one of its key targets this year, which will require large quantities of high quality steel wheel. The company has developed first steel wheels of 1,250 mm in diameter at home dedicated to high-power locomotives that have been under a trial run for 50,000 kilometers without any physical glitch.

This year, Masteel plans to produce 240,000 tons of high-speed rain wheels whose prices would be up to 60,000 yuan a ton on average, compared with 8,000 to 9,000 yuan for ordinary ones. China is on course to make domestically produced high-speed train wheels an alternative to imported materials with similar quality.