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Puyang Iron and Steel had a net profit of 596 million Yuan during the first half(2008/8/19)

From Jan to June of 2008, Puyang Iron and Steel in Hebei Province realized sale income 703 million Yuan, profits 654 million Yuan and net profit 596 million Yuan. Meanwhile, the company had an asset of 7.3 billion Yuan in total till the end of June 2008. With the support from commercial banks in the city, the company’s had one 120 tons converter and one 1,250 hot rolled steel coils production line launched operation in July, which boosted the crude steel capacity to 6.00 million tons, and rolling capacity to 6.00 million tons.

Shougang Cold Rolled Sheet Co. opens(2008/8/19)

Shougang Cold Rolled Sheet Co., Ltd., the group’s only premium steel production project in Beijing, received business license on August 12, 2008 and is to launch at the end of this year. Affected by the ongoing Olympic Games, three out of the four blast furnaces in Shougang have already been shut down with steel capacity limited to two million tons per year.
The 8.4 billion yuan project is jointly set up by Beijing Shougang Co., Ltd, Shougang Group and Beijing Automobile Investment Co., Ltd, with a registered capital of 260 million yuan.
The main facilities of the project started constructing on July 2, 2005. Pickling rolling and continuous annealing machines were completed in November 2007 and May 2008 respectively. As of the end of July 2008, the company had produced 178,000 tons of cold rolled sheet and 52,000 tons of annealing coil. Two galvanized machines will be hot commissioned in August and November 2008.

Masteel, Laiwu Steel benefit on higher steel prices(2008/8/19)

China’s steel producers enjoyed profitable results in the first half of this year thanks to a steady rise in steel prices. Masteel and Laiwu Steel posted a first-half net profit of 653 million yuan and 2.261 billion yuan respectively, up 103.52 percent and 29.99 percent year-to-year. Wisco also saw an increase of 37 percent in its net profit. The profit hike was down to rising steel prices.
Statistics showed the domestic composite steel price index in January grew less than 1 percent from a month earlier. However, the price indexes in February and May exceeded seven percent though this upward trend softened in March, April and June. The average price index stood at 144.77 points in the first half, up 30.92 percent from last year.
Meanwhile, production costs also shoot up in the first half. The price of PCI coal purchased by medium and large steelmakers was up 36.85 percent; that of coking coal was up 61.63 percent, that of coke was up 81.8 percent and that of imported iron ore was up 53.86 percent.

420 million Yuan steel products trading center was constructed in Linyi(2008/8/18)

On 12th Aug, Shandong Linyi Steel Products Trading Center, which had an investment of 420 million Yuan in total, was opened, and the relocation of Linyi Hedong Steel Market was over.
To modernize the market, and expand the industry chain of steel products, local government in Linyi Hedong decided to move Hedong Steel Product Market to a new site with better location and more convenient transportation systems, which had a trade value of 2.0 billion Yuan per year. Therefore, the government invested 420 million Yuan and constructed a new steel products trading center. The new center has 1,860 stalls, and is divided into three areas, including finished steel products, steel scraps, and waste machinery and electronic equipments.
The new steel products trading center will be a large metal materials distributing center in North China.

Jigang Group had a higher foreign exchange though the export volume declined(2008/8/18)

During the first six months, through improving the structure of products for export, increasing export volume of high technology and high value added, Jigang Group began to export ship plate, line pipe steel, high strength steel in large numbers, and forming a comparatively advantage, with the famous “Made-in-China” high strength plate exported to Europe and America. JIgang had an export volume of high strength plate higher any other companies in this industry, breaking the monopoly of leading iron and steel producers. During the first half, the company exported 525,000 tons of iron and steel products, and made a foreign exchange of 430 billion US Dollars, up by 9.6% though the volume downed by 30.1%.

Shagang, Hengchang Coal cooperate on coking plant(2008/8/15)

Hengchang Coal and Jiangsu Shagang agreed on June 23 to invest five billion yuan to build a three million t/y coking project in Linyi, Shandong in the next three years. The two-phase project will finally create a sales revenue of 10 billion yuan per year and a profit and tax of 1.5 billion yuan. Shagang will take a 40 percent stake in the project and Hengchang Coal will take 60% shares.

Jinan Steel obtains a net profit of 1.058 billion yuan in H1(2008/8/15)

Jinan Iron and Steel Co., Ltd. obtained an operating income of 22.208 billion yuan, up 42.34 percent year-to-year, an operating profit of 1.468 billion yuan, up 45.04 percent and a net profit of 1.058 billion yuan, up 57.86 percent with earnings per share of 0.78 yuan.

Nanchang Steel’s 22.5 million yuan coking plant(2008/8/14)

Changli Co., Ltd. announced to set up Xinchangnan Coking Co., Ltd. by investing 22.5 million yuan for 15% shares. The new project, costing 520 million yuan, is to build a 960,000 t/y greenfield coke oven in two years with an annual coke capacity of 1.1 million tons and gas of 220 million cubic meters.
Heze Zhongtai Coal Chemical Co., Ltd, another partner of the project, currently has a washed coal capacity of 1.2 million tons per year and will rise to 4.8 million tons by 2010.

Wisco had a net profit of 4.9 billion Yuan for the first half up by more than 30%(2008/8/13)

As one of the top three iron and steel companies in China, during the first six months, Wuhan Iron and Steel Company Ltd (Wisco) had a net profit of 37% higher from that of the same period in 2007, reaching 4.911 billion Yuan, though the rising prices for raw materials such as iron ore and coal giving great pressures. As the index for the profit of this industry, Wisco’s business performance report may set the basic tone for the iron and steel industry for the first half.
According to Wisco’s performance report for the first half of 2008, from Jan to June, the company produced 7.0390 million tons of iron, 7.2069 million tons of steel and 6.2999 million tons of steel products, increasing by 20.99%, 23.06%, 18.23% from a year ago respectively. Meanwhile, the company realized operating income 37.3 billion Yuan, profits 6.109 billion Yuan and net profit 4.911 billion Yuan (up by 36.53% from a year ago), and the profit per share came to 0.627 Yuan, and ROE (Rate of Return on Common Stockholders' Equity) came to 17.941%.
The increases in sale volume and product prices were the main driving forces for the sale income, according to Wisco. But due to the rising prices for raw materials and the increases in sale volume, the operation costs increased, and the gross profitability downed by 4.62 percent, to 20.99%.
Only two iron and steel companies released production and performance report for the first half, including Wisco. The other was Xining Special Steel. But, basing the reports, and estimated results from other 8 companies, the iron and steel companies have had a good result. Xining Special Steel had a profit of 99% higher from a year ago, and Tanggang and other 7 companies are estimated to have better results, with Bayi Iron and Steel to have a profit more than 200% higher, and the main reason for this was the increases in steel prices.

Pingxiang Steel’s sales revenue up in H1(2008/8/13)

During the first half of this year, Jiangxi Pingxiang Iron and Steel Co., Ltd. (Pingxiang Steel) achieved main business sales revenue of 107.6 billion yuan, up 79% year-to-year and profits and taxes of 8.6 billion yuan, up 341%.

Jisco produces 2.53 million tons of steel in H1(2008/8/12)

Jiuquan Iron and Steel Group (Jisco) produced 2.53 million tons of steel in the first half of 2008, up 2.54% year-to-year and achieved a gross industrial value of 13.8 billion yuan, up 45.25%. The group has invested 140 million yuan in building No.3 and 4 CDQ units for completion this September, which could recover 76 tons of medium pressure gas per hour and generate 20,000 kilowatt of electricity per hour. 55 million yuan have been spent as part of the 80-million-yuan worth heat storage update at medium plate plant’s heating furnace. The first heating furnace was commissioned from late July.
Besides, a heat storage update at its stainless HR plant’s heating furnace, costing 70 million yuan, will put on stream this November.

China Xining Special Steel reports 99% net profit surge in 1H(2008/8/12)

Chinese Xining Special Steel Co. Ltd., a major domestic iron and steel maker, reported on Saturday a 252 million yuan (36.7 million U.S. dollars) net profits in the first half, up 99.42 percent year-on-year.
The western Qinghai-based steel maker's business revenue topped 3.72 billion yuan, up 47.46 percent year on year, with earnings per share standing at 0.34 yuan.
The profit rise was mainly boosted by its production volume increase of main businesses. The company turned out 588,700 and 522,900 tonnes of steel and steel products respectively in the first half, up 5.55 percent and 8.12 percent respectively year on year.
The company produced 527,900 tonnes of iron concentrate in the Jan.-June period, up 168.19 percent year on year. It turned out 378,700 tonnes of coke in the first half, up 13.74 percent, compared to the same period last year.

Hanggang Group realized sale income of 35.476 billion Yuan during the first half (2008/8/12)

During the first half of 2008, Hanggang Group realized sale income 35.476 billion Yuan, including 10.188 billion Yuan from Banshan Iron and Steel base, while realized revenue 2.281 billion Yuan, including 1.082 billion Yuan Banshan Iron and Steel. As mentioned above, the company’s performance was in accord with the schedule.

Benxi Steel gets over-performance in July operations(2008/8/11)

Benxi Steel No.2 CR plant produced 141,334 tons of materials in July, an increase of 1,022 tons from planned target, with indicators such as average daily output and qualified ratio hitting new records. Its continuous annealing machine produced a record 79,403 tons despite a disruption occurred early this month. These materials have been used in high-end household apparatus manufactures such as Hisense, Haire and automakers like Beijing Hyundai.

Yonggang’s profit up 54.37% in first 7 months(2008/8/11)

From January to July, Yonggang Group got sales revenue of 17.051 billion yuan, up 31.42 percent year-to-year, profits and taxes of 1.766 billion yuan, up 47.19% and profits of 1.022 billion yuan, up 54.37%.

Baotou Steel’s recycling ratio of industrial water reaches 94 percent(2008/8/11)

Baotou Steel’s recycling ratio of industrial water reached a record 94 percent from January to July of this year. This achievement was obtained through setting up a water recycling system at blast furnace, enhancing the efficiency of cooling water for thermal power station, water supply, oxygen making, seamless pipe and steel making plants as well as widely introducing water-saving devices and FC timing-dominated controlling system.

Wugang realized profit 460 million Yuan during the first half(2008/8/6)

During the first six months of 2008, Wugang produced 1.58 million tons of steel, increasing by 63% from that of the same period in 2007; 1.275 million tons of plate and sheet products, up 71%; while realized pre tax sale income 8.606 billion Yuan, up 85%; and profit 460 million Yuan, and turned in tax 400 million Yuan.
Meanwhile, the company developed seven new products of high value added and high technology, and improved the products quality, and lowered the ratio of out-planned plate and sheet production, with that for the aged line down by 0.63%, and that for new line down by 2.5%. At the same time, the new line improved the quality of line pipe steel. The company deepened the project of making famous products with high quality, with module steel plate listed in the National Famous Products and plate for boiler, pressure vessels and high building structures having passed the test of High Quality Products.
The targets for the latter half of 2008 of the company include: producing 1.62 million tons of steel, and securing a total production of 3.20 million tons for the whole year; producing 1.21 million tons of steel plate and sheet, and securing a total of 2.48 million tons; realizing sale income of more than 8.0 billion Yuan, and securing a total of 16.0 billion Yuan; realizing profit 450 million Yuan and securing a total of 900 million Yuan; virtually completed phase two of new wire production line project; and so on.

Shagang, Yangquan Coal ink cooperative deal(2008/8/6)

Jiangsu Shagang Group and Shanxi Yangquan Coal Group held a signing ceremony on July 28 to set up Yangquan Coal Group Shagang Energy Investment Co., Ltd. The new company will engage in mining on coking coal, anthracite and other nature resources, acquiring local coalmines and related assets as well as taking part in the management and operations of these mines.
Shagang, as China’s largest non-governmental steelmaker, edged into top 3 largest mills in China, ranked 8th worldwide and became one of the most competitive mills in the world in 2007.Yangquan Coal Group is one of the 13 large coal bases planned by the state, a major part of the coal base in East Shanxi, one of the first 19 coalmines planed by the state, ranked 206th among China’s top 500 firms and 10th among top 100 coal producers in the country.
The cooperation this time will help both companies fix either end-use market or upstream resource and further enhance their core competitiveness.

Baosteel realized profit 28.664 billion Yuan during the first half (2008/8/5)

Last August, Baosteel made a new round development strategy (2007 to 2012 Development Plan). According to the plan, Baosteel targets at expanding the capacity to 80 million tons and lifting the competing ability of iron and steel business to top three of the world and being listed in the top 200 companies around the world.
Having solved various problems, Baosteel secures a smooth operation of the first COREX furnace in China, which launched production at the end of 2007; after ten years effort, oriented silicon steel facitlity had the first batch of qualified products. Guangdong Iron and Steel Group Company Ltd, in which Baosteel takes a stake of 80%, was established on 28th June 2008, and the group will be responsible for the construction of Zhanjiang iron and steel base, which began the preparation work.
During the first half of 2008, Baosteel produced steel 15.0248 million tons, increasing by 5.6% from that of the same period in 2007; realized consolidated sale income of 128.058 billion Yuan, up by 16.8 from a year ago; profit 28.664 billion Yuan, up 28.5%.

Changgang Ruiqi high-speed wire rod project moving on smoothly(2008/8/4)

Now Ruiqi high-speed wire rod project of Changgang is moving on smoothly. The 5-meter platform for heating furnace, finish rolling and finishing has finished, and the body of the heating furnace is under construction, the steel structure of crane beam is under construction. The project is moving on smoothly in accord with the schedule.

Construction of Yanbao Steel Pipe project starts in Shandong(2008/7/31)

Baosteel Pipe Co., Ltd. in Yantai city, Shandong held a groundbreaking ceremony for its high-grade oil (gas) pipe and boiler pipe production line at the New and High-Tech Industry Zone in Fushan district, Yantai on the afternoon of July 23.
The project, due to launch operation on June 29, 2010, aims to produce 600,000 t/y of 177.8-457mm finished seamless pipes featuring a large diameter, corrosion and high-pressure resistant and high-alloy contained property.
Shanghai Wuye won tenders of the project’s two sections including main workshops, continuous hot rolled pipe mill, heat treatment production line, pipe processing line, boiler pipe refining line, general pipe refining line, plain pipeline, coupling processing room, public and assistant infrastructure, buildings and housings.

Fosun plans to construct a 10 million tons iron and steel base in Lianyungang Port(2008/7/31)

According to Fosun Group, the group plans to construct a 10 million tons iron and steel base in Lianyungang Port, and now the group is under the consultation for the first phase with a capacity of 4.00 million tons.
If gaining approval from the National Development and Reform Commission (NDRC), the iron and steel capacity in Lianyungang Port may reach 20 million tons, as all large steel producers in Jiangsu Province plan to construct new plants there. Nanjing Iron and Steel Company (NISCO) of Fosun Group is considering constructing an iron and steel project with a capacity of 10 million tons at most.
Now NISCO has a crude steel capacity of 6.50 million tons per year. The company hopes to construct a medium plate production line and therefore to expand the capacity to 8.00 million tons. If the Lianyungang Port project gains approval, the company will construct the line and other facilities with a capacity of 2.50 million tons there. In Feb 2008, the company signed frame agreements of cooperation, beginning the work of the iron and steel project.
As a port city, Lianyungang is in accord with national policies that the new capacity should near the sea line. The Industrial Zone projected by Jiangsu Province for the iron and steel projects is located in Xuxu Development Zone, which has a scale of 20 million tons at most. Shagang, Huaxi Iron and Steel also plan to expand the capacity.
Meanwhile, Lianyungang Port is planning a 250,000 tons iron ore port, which will be operational in 2009.
Fosun has stakes in several iron and steel companies, including NISCO, Jianlong Iron and Steel and Ningbo Iron and Steel and so on. Among those, NISCO has a capacity of 6.00 million tons, and with 5 to 6 plants in Hebei Province and Northeast China, Jianlong Iron and Steel invested by Fosun now has a capacity of more than 20 million tons. In this connection, Fosun now focuses on the reform and expansion of iron and steel companies.
In June 2008, Fosun purchased 47.5% of stakes in Tianjin Iron and Steel with a price of 3.8 billion Yuan, and became the second largest shareholder of the company. It is said that Fosun is talking with Hangzhou Iron and Steel and Qingdao Iron and Steel, with a production of 4.00 million tons per year and 3.00 million tons per year respectively, but now there is no progress.

Ansteel benefits from costs saving(2008/7/30)

Ansteel created a benefit of 106.62 million yuan from energy saving and emission reduction efforts during the first half of this year despite of great challenges such as a nationwide transportation tension, lack of electricity supply and soaring prices of iron ore, coal, transportation and oil. During the first half, the group hit records in 10 indicators such as charged coke ratio, comprehensive energy consumption per ton and fresh water consumption per ton. Meanwhile, it promoted nearly 400 technologies innovation and spread more than 180 advanced achievements related to energy conservation and emission reduction.

Jigang Group had a better result of production and performance for the first half(2008/7/30)

During the first six months of 2008, Jigang Group produced 5.974 million tons of steel, 5.519 million tons of iron and 6.013 million tons of steel products, while realized sale income 26.91 billion Yuan, revenue 3.46 billion Yuan, and profit 1.85 billion Yuan. Due to the influence of washing out the outdated iron and steel capacities, the production of steel and steel products were a little lower from those of the same period in 2007, but the sale income, revenue and profit increased by 9.97%, 17.1% and 16.3% respectively from a year ago. Meanwhile, the group exported iron and steel products of 525,200 tons from Jan to June, and made a foreign exchange of 430 million US dollars. Though the export volume down by 26% from that of corresponding period in 2007, the foreign exchanges were up by 15.6% with the same comparison.

Shagang Group realized sale income 69.7 billion yuan during the first six months(2008/7/29)

During the first six months of 2008, Jiangsu Shagang Group realized sale income 69.7 billion yuan and revenue 9.83 billion yuan, both increasing by more than 26% from those of the same period in 2007. Through developing new technologies and products innovation, Shagang managed to continuously improve the product mix, and further the energy saving and emission decreasing, and expand the market, therefore got a better result of production and performance for the first six months.
During the first half of 2008, the company developed 9 products, with high technology and high value-added of four types steel, including line pipe steel, high strength low alloy structure steel, boiler steel and construction steel for high buildings.
From Jan to June, Shagang exported 1.16 million tons of high grade wire rod, hot rolled sheet and wide plate and so on, making a foreign exchange of 870 million US dollars, increasing by 50% plus from that of the same period in 2007, contributing a profit of 350 million yuan.
Meanwhile, Shagang made profits through resources recycling, including generating electricity 1.1 billion KWH through reclaiming gas from blast furnaces, converters and coking furnaces, and made a profit of 140 million yuan from slag, and made a profit of 330 million yuan from the sale of byproducts of coke
By introducing new technologies, Shagang saved energy amounting 147,500 tons of standard coal. The profit from recycling economy has taken a ratio of more than 20%, becoming a new force to the development of Shagang.

Jinan Steel marks 50th anniversary(2008/7/29)

Jinan Steel commemorated its 50th anniversary on July 1. During the past 5 decades, the mill had produced 86 million tons of steel, 83.41 million tons of pig iron, 72.57 million tons of steel products, achieved sales revenue of 263.2 billion yuan, profit and tax of 30.2 billion yuan, profit of 15.1 billion yuan and contributed a 31.9 billion yuan-worth wealth to the country, including 19.3 billion yuan of profit and tax and 12.6 billion yuan of added value in the state-owned assets. The mill has now edged into China’s top 10 largest steelmakers with an annual capacity of more than 12 million tons.

Tangshan Steel inks long-term COA to transport iron ore(2008/7/28)

Tangshan Steel inked a 15-year contract of affreightment (COA) with Shandong Far East Shipping Group, upon which the latter will transport a total of 27 million tons of iron ore for the mill from Australia and Brazil.
The cooperation came after continuing record levels of ocean freight rates occurred due to an acute imbalance between strong demand on dry bulk cargo transportation and actual shipping capacity as well as soaring oil price in the international market. Both companies have agreed on a pricing policy based on “actual cost + rational profit”.

The joint venture between Shanghai TRUSTECH and Angang launched operation(2008/7/28)

Recently, the joint venture, financed by an engineering technology company Shanghai TRUSTECH and Anshan Iron and Steel at a share of 50/50, Anshan TRUSTECH launched operation. This means Angang will have the cold rolling rollers repaired at a lower cost without the transportation fee, and can save costs by several million Yuan per year.
After launching operation, Anshan TRUSTECH could repair more than 5,000 rollers per year for Angang, and provide services in time, securing a smooth production of Angang.

Wisco and Liugang merged Environment Assessment Report for Fangchenggang Iron and Steel Project began technology check(2008/7/25)

Recently, professionals from project environment assessment center of Ministry of Environment Protection began to check the Environment Report for million tons grade Fangchenggang Iron and Steel Project technically.
To adjust the structure of iron and steel industry in China, demolish the outdated capacities, improve the industry location, boost the cooperation and reform of iron and steel companies of different areas, move the plants from cities and strengthen the competing ability of iron and steel companies’, on 17th July, National Development and Reform Commission gave approval to Guangxi Zhuang Autonomous Region and Wuhan Iron and Steel Company Ltd (Wisco) on primary work of Fangchenggang Iron and Steel Project.
According to NDRC, Guangxi and Wisco should demolish 5.41 million tons of iron melting capacity and 9.10 million tons of steel melting capacity. Meanwhile, NDRC asks Guangxi Auto Region to boost the merge between Liugang and Wisco, and definite the investors, and though Fangchenggang Project, to realize the merge of Wisco and Liugang in practice.
The professionals have checked the site for the project and the surroundings and the environment around the project.

Baosteel, Shanxi Coking Coal deepen partnership relations(2008/7/24)

Shanxi Coking Coal Group chairman and party chief Bai Peizhong recently met with visiting Xu Lejiang, Chairman of Baosteel Group. Both sides expressed to deepen their partnership relations and extend cooperative scope. As China’s largest coking coal firm, Shanxi Coking Coal Group has a registered coal reserve of 50.3 billion tons with rich varieties such as coking coal, fat coal, 1/3 coking coal, lean coal, fat-gas coal and meagre coal. The group is a major supplier of prime coking coal, fat coal and 1/3 coal for Baosteel.
Both companies set up Shanxi Huobao Ganhe Coalmine Co., Ltd. to jointly explore mines there in April 2007 and expressed willingness to cooperate on steel trading aspect.

Egang realized a profit for the first half 182.16% higher from a year ago(2008/7/23)

During the first six months of 2008, Echeng Iron and Steel Company Ltd (Egang) realized sale income 6.692 billion yuan, and profit 241 million yuan, increasing by 69.11% and 182.16% respectively from those of the same period in 2007.
Through product mix adjustment and improving, Egang strengthened the production of high quality and high grade steel, and made progresses on new product development, and improved the product quality. The company is targeting at a profit of 500 million yuan for the whole, and trying to win a profit of 600 million yuan.

Wisco’s Fangcheng Port Steel Project passes environmental assessment(2008/7/22)

During a 3-day consultation, Guangxi Fangcheng Port Steel Project, promoted by Wisco, passed an environmental assessment conducted by a team of 14 professionals in Nanning.
The project adopts modern production facilities and takes a series of advanced measures to prevent polluting such as CDQ, TRT, sintering and converter surplus heat recovering machines, dry purification for gas from blast furnaces and converters, dry desulfurization for smoke and gas from sintering machines, and assistant equipment. Discharges of waste gas, water, solid waste, SO2 and COD all meet the national industry policy.

Zhanjiang Port, Baosteel set up strategic alliance(2008/7/21)

With its 300,000 dwt sea-route and an annual throughput of 53.468 million tons last year, Zhanjiang Port has become an ideal option for the Zhanjiang Steel Project, a joint venture between Baosteel and Zhanjiang Port Co., Ltd.
Construction of the project kicked off on December 3, 2007 when Zhanjiang Longteng Logistics Co., Ltd. spent 3 billion yuan to build a 5 million t/y pellet plant, as an upstream chain of the Zhanjiang Steel Project. The pellet project, in which Zhanjiang Port holds 8% stake, includes a 50,000 dwt dock, raw materials yard, pellet production line and assistant facilities, and is due to launch in the first half of next year.
Furthermore, Zhanjiang Port is promoting the construction of railway branches in the East Island and will build two large public docks nearby the steel plant in the island.

Daye Iron Mine adds 14.12 million tons of ore reserves(2008/7/18)

According to the assessment report examined by professionals from Ministry of Land and Resources, the ore reserves of Daye Iron Mine added by 14.1229 million tons. And the professionals believe there may be still possible reserves around and in Daye Iron Mines. Since March 2005 when Daye Iron Mine began the exploration project, 23.00 million tons of magnetite reserve (including estimated resources) has been discovered.
Cooperation with research institutes, Daye Iron Mine further analyzed the data gained and improved the report. In April, the mine handed up exploration report for succeeding mines to Ministry of Land and Resources. According to the report, based on 333 and 334 standard of international resource reserve standard, the mine will add ore reserves by 14.1229 million tons, 4.069 million tons.

Shougang ready to halt for Olympics(2008/7/18)

Key enterprises and industries including metallurgy, construction materials and petroleum chemistry have constituted detailed scheme of production suspension and emissions reduction during the Beijing Olympic Games.
More than 150 major polluting enterprises are ready to halt their production during the Games. Shougang will suspend operations of its No 3 blast furnace, one converter at No 2 steelmaking plant and two sintering machines and run at a monthly pace of 200,000 tons, decreasing by about 70% from its normal level.

Dongbei Special Steel and China FAW together develop new materials for automobile(2008/7/17)

Recently, Dongbei Special Steel Group and China FAW Group signed cooperation agreement. the two companies, both of who have national technology centers, will form a work group to develop the utilization of non quenched and tempered steel on auto production, therefore enter the market of new materials for auto production. FAW will put Dongbei Special Steel as the research and develop and production base of non quenched and tempered steel for autos.
According to the persons in charge, the group will formed the technology centers of the companies, and will divided into five teams which will focus on developing steel for front axe, connecting rod, half-shaft, steering knuckle and turning arm, gear, bolt and so on, and a new material, of low cost, non quenched and tempered to substitute 40Gr.

Hebei Steel Group inks long-term coking contract(2008/7/17)

Hebei Iron and Steel Group Tangshan Steel Co., Ltd. has signed a 15-year strategic agreement with Shanxi Meimian Group and Shanxi Guangda Coking Company. Meimian Group, the largest private-owned enterprise in Shanxi, has an annual coke output of 5.4 million tons and clean coal capacity of 10 million tons, and runs captive coalmines with an exploitable reserve of 2 billion tons. Guangda Coking has a coke output of 1.7 million tons per year and clean coal capacity of 2 million tons. Both companies will ensure a stable coke and coal supply for Tangshan Steel with their reliable transportation systems.

Xiangtan Steel commissions second wide plate mill(2008/7/16)

Valin Group Xiangtan Iron and Steel Group Co Ltd hot commissioned its second 3.8m wide plate mill on June 28 for a total investment of more than 1.7 billion yuan.
The mill has an annual design capacity of one million tons with actual output exceeding 1.2 million tons. Coupled with the first 3.8m double-stand mill launched in October 2005, Xiangtan Steel’s total wide plate output has topped 3 million tons per year.

Huaigang realized profit of 664 million Yuan during the first half(2008/7/16)

 Till the end of June 2008, Huaigang Special Steel Company Ltd of Jiangsu Shagang Group produced 1,465,700 tons of steel, increasing by 56.26% from that of the same period in 2007; 1,313,500 tons of finished steel, up 52.1%; 1,342,700 tons of iron, up 57.53%; 1,799,400 tons of siner, up 103.28%; 409,400 tons of coke, up 111.79%; and generated electricity 172,603,300 kwh, up 81.52% with the same comparison. During the first six months of 2008, the company had an industrial production vale of 6.87 billion Yuan, increasing by 107.95% from a year ago, and realized sale income 7.638 billion Yuan, up 66.12%; revenue 1.035 billion Yuan, up 152.60%, including profit 664 million Yuan, up 174.26%. The sale income, revenue and profit amounted 116.61%, 149.75% and 156% of the half year plan, respectively.

China's Sinosteel wins takeover bid for Australia's Midwest(2008/7/15)

 (Xinhua) -- China's second-largest iron ore trader, Sinosteel Corp., announced it had won a controlling share of Australian iron ore miner Midwest Corp. as of July 10.
Sinosteel offered 6.38 Australian dollars (6.17 U.S. dollars) cash per share for Midwest. It now holds 213,840,550 shares, or 50.97 percent, of the company. The total offer stood at 1.36 billion Australian dollars.
On July 10, Sinosteel appointed three board directors to Midwest: deputy general manager of Sinosteel Mining Development WuHongbin, general manager of Sinosteel Australia Mining Cheng Sijunand Australian lawyer Ian MaCubbin. The appointments took effect as of July 11.
Fang Fang, JPMorgan China's chief executive officer, said the bid was of great significance for Chinese companies seeking overseas takeovers. The bid was the first successful hostile takeover by a Chinese company.JPMorgan advised Sinosteel in the bid.
Sinosteel was the first Chinese company to participate in overseas mining projects. In 1988, it began to develop the ChannarIron Mine in Australia's Pilbara with local companies.

Hanggang realized a sale income of more than 10 billion Yuan from iron and steel business(2008/7/15)

During the first six months of 2008, Hanggang Group realized sale income 35.0 billion Yuan, and profit 1.19 billion Yuan, including 10.030 billion Yuan of sale income from Banshan Iron and Steel base, which is 1.046 billion Yuan more from that of the same period in 2007, accounting 71.64% of the year plan. During the first half of 2008, the company had sold steel products 2.0288 million tons, increasing by 229,100 tons, 12.73% from that of the same period in 2007.

Ansteel expands non-steel business(2008/7/11)

Ansteel general manager Zhang Xiaogang said the group has taken measures to extend industry chain and move towards a diversified development mode.
For example, the group agreed to set up a 50:50 refractory materials joint venture with British Vesuvius China Holding Co Ltd on July 5. In June, it signed deal to set up a 50:50 tire cord quality wire rod joint venture in Chongqing with Belgian Bekaert Group, and tied strategic partnership with US’s GE so as to enhance capability in making and assembling low voltage apparatus.

The output of Tanggang Company’s main products had a steady growth(2008/7/11)

During the first six months, though facing difficulties in transportation and electricity supply caused by snow disaster in Southern China, and the main equipments having several repairs, Tanggang managed to keep the output of the strategic products growing steadily, and completed more than half of the year’s target within six months. During the first half, Tanggang produced 7.8365 million tons of iron, increasing by 30.18% from that of the same period in 2007; 8.1420 million tons of steel, up 23.32%; 6.6882 million tons of finished steel, up 10.55%.

Shougang Holding remerges AJ Corporation(2008/7/10)

Shanghai AJ Corporation has signed a cooperative frame agreement to non-publicly issue 120 million shares to a joint venture 70%-owned by Shougang Holding (Hong Kong) Ltd, accounting for 16% of its total capital stock, which will allow Shougang Holding to replace currently 14%-owned Shanghai Business Patriotism Construction Special Fund as the biggest shareholder of AJ Corporation and the second largest shareholder of AJ Trust. Li Jiacheng will hold remaining 30% in the jv.
AJ Corporation, consisting of trust companies, securities companies, real estate companies and import & export businesses, achieved profit after tax of 365 million yuan in 2007. As of December 31, 2007, Shougang Holding had a registered capital of one million HK dollar, total assets of 7.5 billion HK dollar and net assets of 4.1 billion HK dollar. In 2007, it achieved an operating income of 15.6 billion HK dollar and profits of over 1.6 billion HK dollar.

Wisco made new records on production and performance for the first half(2008/7/10)

According to the statistics issued by Wuhan Iron and Steel Company (Wisco), during the first half of 2008, the company produced 10.71 million tons of iron, 11.25 million tons of steel and 10.61 million tons of finished steel, increasing 55.44%, 54.79% and 58.08% from those of the same period in 2007 respectively. Meanwhile, the company had a sale income of 89.79% higher from a year ago, and the net profit was 20.48% higher than that of the corresponding period in 2007. All these mentioned above made new records, which gave a great present for the 50th anniversary of Wisco.

Sinosteel bids to buy Aussie ore miner alone(2008/7/9)

Sinosteel Corp is now the sole bidder in the takeover of Australian iron ore prospector Midwest Corp after Murchison Metals Ltd withdrew its offer to merge with Midwest.
Murchison said in a statement yesterday that, after talking with Sinosteel over the weekend, it decided to terminate the merger plan as it "is now clear" that Sinosteel will not support the merger on terms which would be acceptable to Murchison.
Murchison in May proposed a merger with Midwest via a share swap, which initially represented a premium to Sinosteel's 6.38 Australian dollars cash (6.11 U.S. dollars) offer before Murchison's shares declined.
Sinosteel, which held 45.58 percent of Midwest as of last Friday, last month said Murchison violated Australia's corporate code as one American shareholder of Murchison bought Midwest shares without approval. The Australian takeover body ruled in favor of Sinosteel.
"It was disappointing that the merger would not proceed at this time given the tremendous value that both Murchison and Midwest believe could be generated by combining their assets,'' said Paul Kopejtka, executive chairman of Murchison.
A spokesman for Beijing-based Sinosteel said it's pleased with Murchison's move, and would now focus on pursuing its takeover and is confident it would gain more acceptances.
Still, Murchison said it wouldn't accept Sinosteel's A$6.38 offer in respect of its 10 percent stake in Midwest, as it intends to play an active role in the company and will seek to maximize the value of its shareholding.
Midwest was unchanged at 6.38 Australian dollars yesterday, the same level as Sinosteel's offer price, ahead of Murchison's announcement.
Contract prices of iron ore, used to make steel, have risen for six consecutive years, prompting steel makers to secure more supplies.

Baotou Steel hits record output(2008/7/9)

During the first half of 2008, Baotou Steel produced 4.5807 million tons of pig iron, up 6.39% year-on-year, 4.673 million tons of crude steel, up 10.08% and 4.4496 million tons of merchant billet and steel products, up 10.63%.
The mill produced 1.3391 million tons of hot rolled wide strip during the same period, 722,700 tons of cold hard coil, 359,600 tons of skin-pass coil, 170,700 tons of galvanized strip, 36,000 tons of cold rolled sheet, 396,400 tons of seamless pipe, 71,100 tons of OCTG and 405,600 tons of rails.
The producer achieved an average BF utilization coefficient of 2.053, up 0.004, a charged coke ratio of 432.68kg, a BF coal injection ratio of 119.45kg, blending iron ore concentrates grade of 65.54%, up 0.09 percentage points, comprehensive iron ore concentrates grade of 65.93% and converter continuous casting ratio of 98.39%, up 0.97 percentage points.
It delivered 809,200 tons of products in June, including 634,500 tons by rails and exported 573,400 tons of billet and products during the first half, earning $410 million, up $103 million.

Xianggang realized a profit of more than 1.0 billion Yuan for the first half(2008/7/8)

According to the finance report from Xiangtan Iron and Steel Group, the group realized a profit of more than 1.0 billion Yuan during the first six months of 2008, making up the losses caused by the snow disaster at the beginning of 2008.
Xianggang almost stopped production during the snow disaster. To make up the losses, the company put more attentions on the strategic products. On 9th April, first batch of 180 tons of wire rod for steel wire cord and 300 tons of wire rod for bead wire ring was delivered to the largest steel wire cord producer in the world, Bekaert Company. The wide plate is another product with high profitability in Xianggang. In April, high grade pipeline steel, X70 steel was utilized in the gas transportation project in Middle Asia; the first batch of plate for offshore oil project was delivered to CNOOC. The high grade plate for engineering machineries was developed in May. Till now, the wide plate from Xianggang has made fame among the consumers, and the sale prices are only lower than those of Baosteel. On 28th June, the second 3.8-meter wide plate production line launched production, which lift the wide plate production to 2.00 million tons per year or so, accounting 90% of the output of plate and sheet.

Pudong Steel’s remove project speeded up(2008/7/8)

 The second phase of Pudong Steel’s remove work has further speeded up. During the fist half of 2008, the project completed 103.32% of engineering shop drawing at various units, 112.5% of non-standard engineering commitment, 130% of tender document for equipment and 163.5% of equipment list delivery. Besides, reinforced concrete construction for COREX iron making and continuous casting and piling for coal injection project have completed 175%, 133% and 100% respectively compared with original plans.

China's Baosteel agrees with BHP Billiton on iron ore price increase(2008/7/7)

 (Xinhua) -- Baosteel, China's largest steel maker, said Friday it had agreed with BHP Billiton on a price increase of up to 96.5 percent for iron ore in 2008, nearly double that of 2007.
The prices were to increase by 79.88 percent to 96.5 percent, respectively, depending on the category of iron ore, the company said in a statement on its website.
"As an outcome of these negotiations, the iron ore prices for Newman Fine Ore and Yandi Fine Ore, increased by 79.88 percent, and the price for Newman Lump Ore increased by 96.5 percent relatively to 2007," said Baosteel in a web announcement.
The price rise is in line with experts' predictions and followed the settlement between Baosteel and Australian miner Rio Tinto last week.
Baosteel, which negotiated on behalf of China's steel industry, said on June 23 it agreed to a 79.88 percent price hike for Pilbara blend fines and Yandicoogina fines and a 96.5 percent price rise for Pilbara Blend Lump for the contract year starting on April 1.
Baosteel agreed in February on a 65 percent price rise for iron ore from Brazilian miner Vale. Rio Tinto and BHP Billiton then demanded a "freight premium," claiming it costs less to ship iron ore from Australia to China.

Baosteel develops deep drawing HD zinc-aluminum products(2008/7/7)

Baosteel has become one of the few steelmakers worldwide capable of producing deep drawing hot-dip zinc-aluminum products DC53 and DC54
With excellent impacted tenacity and corrosion resistance, the products are 5-6 times as much as ordinary galvanized products in terms of corrosion resistant property and mainly used in home appliances.
Baosteel has started commercial shipment of such materials for renowned air conditioning makers like Mitsubishi and Daikin.

Bayi Iron and Steel is expected to have a net profit for the first half of 200% higher(2008/7/7)

According to the primary calculation by finance department of Bayi Iron and Steel Company Ltd, the company is expected to have a net profit for the first half of 2008 200% higher than that (134,533,679.49 Yuan) of the same period in 2007. The accurate figure will be issued in the half-year report.

Liugang has developed into a 10 million tons modern iron and steel company in 50 years(2008/7/4)

On 1st July, Guangxi Liuzhou Iron and Steel (Group) Company held a ceremony for the 50th anniversary.
Liugang was established in 1958. During the past 50 years, Liugang has developed from a small plant with a capacity of 100,000 tons per year or so into a large modern iron and steel producer in China, and been listed in the top 500 companies in China for years. From 2000 to 2007, Liugang spent more than 12 billion Yuan on technology improvement, and demolished the small production lines like of wire, seamless pipe and sheet and so on with small blast furnaces, small converters, electric furnaces, coking furnaces and so on, while formed a product mix with medium plate, high speed wire, continuous rolling rod, hot rolled and rolled plate and strip as the strategic products, and the ratio of plate and strip exceeds 65%. In 2008, the company will expand the iron and steel capacity to 10 million tons per year, and the sale income in 2007 was 28.6 billion Yuan.
Entering the new century, Liugang has invested more than 1.7 billion Yuan on controlling the industrial wastes, while focusing on economy development, and has realized the environment protection targets, wining the national prize for the achievements on recycling economy. During the first 8 years in the 21st century, Liugang has had a profit tax of 12.5 billion Yuan, and ranked 139th among the top 200 ratepayers in China in 2007.

Jinxi Iron and Steel invests 1.34 billion Yuan to construct a coke plant(2008/7/4)

 --with a capacity of 2.20 million tons, the self production of coke could reduce the costs for steel products, and secure a stable supply
Hebei Jinxi Iron and Steel Company Ltd, a subsidiary of China Oriental Group Company Ltd, plans to invest 1.34 billion Yuan to construct a coke plant with a capacity of 2.20 million tons per year. According to Oriental Group, Jinxi Iron and Steel has signed contract with MCC Jingtang Construction Corp. Ltd, including project design, equipment purchase, and construction, and the construction period is 26 months.
According to Oriental Group, as one of the major materials for steel production, Jinxi Iron and Steel now is totally dependent on outsourced coke. Constructing a coke plant could reduce the costs for steel production and secure a stable supply.
Jinxi Iron and Steel is mainly involving in production and sale of iron and steel products, of which Oriental Group holds a stake of 97.6%.

Ansteel, Yingkou port tie the knot(2008/7/2)

 Anshan Iron and Steel Group Co Ltd (Ansteel) and Yingkou Port Group Co Ltd inked a strategic cooperative agreement on June 24.
With the rapid development in recent years, Ansteel has become the largest client of Yingkou port, the nearest outlet to sea for the mill, with the mill’s annual throughput via the port accounting for nearly 10% of totals there. Yingkou port has become one of the 10 largest ports in China with its throughput topped 100 million tons last year, and is expected to reach 200 million tons by 2010.

Wuhan Pingmei Wisco Joint Coking Company was established(2008/7/2)

 On 28th, Wuhan Pingmei Wisco Joint Coking Company was established.
Chen Jiansheng, board chairman of Henan Pingdingshan Coal Company (Pingmei), said in a speech, “The establishment of the joint company is an important step for both companies’ further cooperation and construction of economic union. The new company will help Pingdingshan Coal to expand the coking capacity and the product mix, and construct new type energy chemistry group. On the other side, the new coking company will secure the raw material supply for Wisco (Wuhan Iron and Steel Company), and help strengthening and lifting the influence in the iron and steel industry.”
Li Chunming, vice governor of Hubei Province, said, “Wisco has advantages on professionals, fund and technology, while Pingmei is one of the largest coking coal production base, with the fullest specifications. The strategic cooperation of the two is in accord with the national industry policy, and is a win-win cooperation and helps both companies’ sustainable development. Hubei provincial government will support the new company and provide good services.”

Baosteel, rivals open $5.2 bln joint venture in south China(2008/6/30)

 June 28 (Xinhua) -- Baosteel Group, China's largest steel producer, on Saturday opens a 35.86 billion yuan (5.2 billion U.S. dollars) joint venture with smaller rivals in the southern province of Guangdong.
The new steel mill merged Guangzhou Iron and Steel Enterprises and Shaoguan Iron and Steel Group.
Baosteel paid 28.69 billion yuan (4.2 billion U.S. dollars) for a 80 percent stake in the newly-formed Guangdong Iron and Steel Group. The two local rivals has a 20 percent stake.
Xu Lejiang, Baosteel's chairman, said the industry restructuring were starting to yield results.
Chinese government has been encouraging consolidation of the domestic steel sector amid efforts to adjust industry structure and eliminate out-dated production facilities.
Xu said the local steel industry had entered a critical period for growth. It must change growth mode, as the rising costs in iron ore and coal and penetration of overseas rivals squeezed the corporate profits, he said.
Baosteel, who negotiated on behalf of the country's steel sector, said late Monday it has agreed a price hike of up to 96.5 percent for iron ore imports from Australian mining group Rio Tinto.
Baosteel has set a target of expanding annual production capacity to 80 million tons by 2012. It also eyed annual sales revenue of 50 billion U.S. dollars and profits of five billion U.S. dollars.
Company sources said the steel giant would continue to seek more mergers and acquisitions and boost competitive edge for high value-added steel products.
In January 2007, Baosteel paid three billion yuan (437 million U.S. dollars) for a 69.61 percent stake at Bayi Iron and Steel Group, the largest in northwest China's Xinjiang Uygur Autonomous Region.
Last December, it launched a 19.4 billion yuan (2.8 billion U.S. dollars) joint venture with Hansteel Group in Handan, a city in the northern province of Hebei.

Kungang decreased imported iron ores considerably(2008/6/30)

 As the news that one of the largest international iron ores suppliers, BHP Billiton of Australia signed iron ores supply contract with Baosteel at a much higher price came out, the iron and steel industry in China became alert. “Kungang now has considerably decreased the usage of imported iron ores,” according an official from Kunming Iron and Steel.
“We don’t have a that large volume of imported iron ores, so the higher price for 2008 iron ores contract won’t hit our company. But, the influence in the future is not clear till now.” he said. It is said that Kungang imported 2.00 million tons of iron ores in 2007. Due to the continuously rising prices for iron ores in international market, Kungang has tried hard to decrease the usage of imported iron ores.

Tianjie Group began construction of phase two to cold rolled silicon steel sheet production line(2008/6/27)

 “As the largest producer of silicon steel sheet among the private companies in China, Tianjie Group has begun a cold rolled silicon steel sheet product line project. And phase one of the project, which cost 500 million Yuan, launched commercial production in last October, which could produce silicon steel sheet 120,000 tons per year, and have an annual sale income of more than 800 million Yuan.” Zhang Haijing, vice general manager of the group, said.
Due to the hard requirements for cold rolled silicon steel sheet production, such as high technology, complicated processes and huge investment, now the producers of such materials in China are few, and the capacity is low. As the manufacturing industry in China develops quickly, the demand for imported cold rolled silicon steel sheet increases to more than 1.00 million tons per year, and there is a shortage in the market. In this respect, Tianjie Group began the project of three phases in 2005, therefore to improve the product mix. With phase one completed and launched production, the project now is adding profits to the company, as the demand for silicon steel sheet keeps strong.
To meet the demand in the market, the phase two, with an investment of more than 300 million Yuan, has begun construction, and is expected to completed in 2010. Till then, the output of silicon steel sheet will increase to 500,000 tons per year, and it will fill up 50% of the short in silicon steel sheet market in domestic.

Baosteel to hold 80% shares in Guangdong Steel Group(2008/6/27)

Baosteel Corp said it plans to spend 28.688 billion yuan in cash to hold an 80%-stake in Guangdong Iron and Steel Group Co Ltd with a registered capital of around 35.86 billion yuan. The remaining 20% will be jointly owned by the State-owned Assets Supervision and Administration of Guangdong Province and the State-owned Assets Supervision and Administration of Guangzhou City with a net asset of 7.172 billion yuan in Shaoguan Steel and Guangzhou Steel as capital.
By 2010, Guangdong’s consumption of steel is projected to reach 50 million tons, just matching a capacity target of Baosteel Corp for 2012.

Sinosteel to build northern metal resources base in Shenyang(2008/6/26)

Sinosteel Corporation inked an agreement with Liaozhong county government and Shenyang Economic and Technical Development Zone on June 19 to build metal processing and distributing projects in the two regions for 8-10 billion yuan.
Sinosteel will build scrap processing, iron ore stockpiling, oxidized pellet processing, automobiles breaking, steel processing and distributing projects as first phase at coastal economic zone and Shenyang Economic and Technical Development Zone for 8 billion yuan. These projects are expected to achieve a sales revenue of 40-50 billion yuan, profits of 1.5-2 billion yuan and taxes and profits of 1-1.5 billion yuan.

Huifeng Iron and Steel’s 200,000 tons seamless steel pipe project to launch production by the end of the year(2008/6/26)

With an investment of 100 million Yuan and a capacity of 200,000 tons per year, the seamless pipe production line project of Huifeng Iron and Steel Company which is located in Anyang County, Henan Province, has got under construction, and is expected to launch production by the end of 2008.

Xinxing Pipes Group singed Strategic Cooperation Partnesr Agreement with CISDI(2008/6/25)

On 16th June, Xinxing Pipes Group signed Strategic Cooperation Partner Agreement with CISDI Engineering Co., Ltd. As a specialized engineering company in providing services for iron and steel companies on project consulting, plant design and overall plant contracting and so on, CISDI has a good reputation and revenue both in domestic and abroad. The two companies will cooperate in metallurgy and machinery and other fields. The agreement is an important step for Xinxing Pipes Group to realize the target for “11th Five-year Plan”, and will help with the product mix improvement and sustainable development policy.

All-out efforts to trim excessive ore stocks in Tianjin(2008/6/25)

During the first five months of 2008, Tianjin port completed iron ore throughput of 25.99 million tons, up 20% year-on-year. The port authority has taken many measures to address the recent excessive stocks due to a forecast on higher international iron ore prices, intensive imports and speculative holdings by domestic players and a lack of transportation capacity across the country since early this year.
These measures included well-arranged shipment schedule, using rails to disperse excessive ore, raising warehouse charges, further expanding warehouses capacity and building new docks at Nanjiang. As a result, iron ore stocks at Tianjin port stood at normally 6.21 million tons as of June 15.

Hebei Dongshan Metallurgy began phase one of the 1.00 million tons steel rolling project(2008/6/24)

On 13th June, Hebei Dongshan Metallurgy Industry Company Ltd held a ceremony for phase one of 1.00 million tons I beams, angle and channel steel rolling project breaking ground, which means the project launched construction virtually.
The investment for the 1.00 million tons I beams, angle and channel steel rolling project totals 200 million Yuan, with phase one having a time limit of six months, and an investment of 100 million Yuan. The investment recovery period is 18 months. Phase two is to begin in early 2009. When the project completed, the company will have an iron capacity of 1.00 million tons per year, and an equaling capacity for steel and steel products respectively.

Ansteel merges with Tiantie Steel Sheet(2008/6/23)

Anshan Iron and Steel Group (Ansteel) completed capital increase and share expansion in Tiantie Steel Sheet Co Ltd yesterday afternoon, which was equally held by Ansteel and Tiantie Group. Ansteel is the world’s largest supplier of container steel and one of the domestic producer of high-grade auto panel with a premium steel capacity of 25 million tons per year after a 60-year-plus of development while 40-year-old Tiantie is a large state-owned steel producer with an annual steel capacity of 8 million tons.

Baosteel realizes batch production of X80 pipeline plate(2008/6/23)

Baosteel has realized batch production of plate in 22mm thick for X80 large diameter straight welded pipe used in the second west-east gas transportation line by producing over 10,000 tons of such material for two consecutive months, with a reduction of 50% in cold rectification ratio.
The group embarked on the industrial development of this plate early last year before succeeding in trial production this February.

Baosteel Corp granted international A ratings(2008/6/20)

Baosteel Corp has been granted “International A ratings” by an international sustainable development rating agency RepuTex for its all-out efforts to deal with key risks, especially with various management systems including inner control, audit committee, environmental protection and safety.
The company aims to become a greenfield steel producer in 2010 and a leader among resource recycling steel makers and national economic recycling pilot bases in 2012, said Baosteel Corp general manager Fu Zhongzhe.
Only 7% of global enterprises and 3% of China’s enterprises once got A ratings from RepuTex.

Shougang Hierro Peru S.A to invest 1.0 billion US dollars on capacity expansion(2008/6/20)

According local newspaper, Shougang Hierro Peru S.A decided to spend US $1.0 billion to implement Marcna New Area project. The board of directors approved the new mine development and infrastructure improvement project for capacity expansion, during the meeting held yesterday, which include a new processing plant and a pellet plant. The project needs an investment of 1.0 billion US dollars or so, and will add an annual capacity of 8 million tons per year, more than double the output from that (7.11 million tons) of 2007.
Since 1993, Shougang Hireeo Peru S.A has become a 100% subsidiary of Shougang Group of China. The mines of the company are located in coastal Marcna County, 530 km south of Lima, capital of Peru.

Henan Qingshan Jinhui 400,000 tons stainless steel slab project broke ground(2008/6/19)

On 10th June, the stainless steel slab continuous casting project, with an annual capacity of 400,000 tons per year, broke ground in Henan Qingshan Jinhui Stainless Steel Industry Company Ltd. Qingshan Jinhui was established in June 2005, which has an investment on stainless steel processing project of 1.0 billion Yuan (on fixed assets). The project is to be completed in three steps. Now the first two phases are completed, and the slab project is among the phase three.
It is said the slab project has an investment of 110 million Yuan, which will install an one-stand and one-flow slab continuous casting line, with a slab output of 400,000 tons per year of stainless steel, carbon steel and line pipe steel. The equipments installation is scheduled to be completed by the end of 2008, and at the beginning of 2009, the project will launch operation after tests. Till then, the company will have a stainless steel slab production of 1.00 million tons per year, strengthening the leading position in Henan stainless steel industry.

Jinan Iron and Steel has an estimated net profit for the first half of more than 50% higher(2008/6/17)

According to the notice issued on 12th June, basing on the primary calculation by finance department of Jinan Iron and Steel Company Ltd, the company is estimated to have a net profit for the first half of 2008 more than 50% higher than that of the same period in 2007. During the first half of 2007, the company had a net profit of 672,143,517.4 Yuan, and profit per share came to 0.5 Yuan.
According to the notice, the increases of net profit came from the smoothly moving on energy saving and emissions decreasing project, structure adjustment and recycling economy project. Meanwhile, compared with those of the same period in 2007, the larger increases in prices for steel in the first half of 2008 helps the company lift up the estimated profit.
　

Magang completed investment of 4.343 billion Yuan from Jan to May(2008/6/13)

For 2008, Magang planned 16 key projects, with an investment totaled 8.47 billion Yuan, and the company has finished investment of 4.343 billion Yuan from Jan to May, or 51.28%. Among these projects, silicon steel production line now has been completed and launched operation, the command center for production of Magang began decoration, and the Heshangqiao Iron Mine project is accelerating.

Hebei Steel Group outpaces Baosteel as China’s No 1 steelmaker(2008/6/13)

Two large steelmakers in China’s Hebei province – Tangshan Steel and Handan Steel have officially incorporated into Hebei Iron and Steel Group, creating a 31.75 million tpy producer that could leapfrog Baosteel to become the country’s biggest.
Tangshan Steel produced 22.75 million tons of crude steel, achieved an operation income of 87.09 billion yuan in 2007, while Handan Steel produced 9 million tons and achieved sales revenue of nearly 40 billion yuan, according to related information.
The move was spurred by a series of merge and consolidation among the industry in short time, such as Baosteel’s acquisition of Shaoguan Steel and Guangzhou Steel, Wisco’s merge with Liuzhou Steel and the debut of Shandong Iron and Steel Group.

Tianjin Steel commissions CR sheet project(2008/6/12)

Tianjin Iron and Steel Group (Tianjin Steel) officially started operations of a cold rolled sheet project, one of the 40 key industrial items in Tianjin, with an annual CR sheet capacity of 1.5 million t/y and galvanized sheet capacity of 600,000 t/y in the first phase at a cost of 3.5 billion yuan. The project, broke ground on October 28, 2006, adopts world’s most advanced processes and facilities including one pickling-cold rolling complex machine and one continuous hot-dip galvanized machine, with products covering almost all high-end cold rolled products such as auto, household apparatus and high-grade construction steels.

Wuhan Iron and Steel Group’s Roller Company Ltd established(2008/6/12)

On 6th, Roller Company Ltd of Wuhan Iron and Steel Group was established after reform.
It is said that, with Wugang Group’s support, Roller Company has begun the “11th Five-year” Development Plan. With technology improving project phase one moving on smoothly, the company may reach a high grade roller capacity of 30,000 tons per year by 2009; when the phase two completed, the capacity will be lifted to 60,000 tons to 80,000 tons per year. Till then, the company will have an improved product specification, production scale and quality, giving better services to Wugang and the customers in domestic and abroad.

Baosteel to construct 10,000 square meters of buildings of color coated steel sheet in Dujiangyan(2008/6/11)

According to the arrangement by local government of Dujiangyan, the project of constructing 10,000 square meters of buildings of color coated steel sheet in Dujiangyan for Bureau 10 by SinoHydro Corporation began recently, and the project is donated by Baosteel.
As the largest hydropower construction company in China, Sinohydro Corporation ranks the 89th among the top 500 companies in China, and the 51st among the world’s major contactors of large projects. The earthquake in Wenchuan severely damaged the subsidiaries of Sinohydro Corporation in Sichuan Province, in particular the Bureau 10.
To help the company recover from the disaster, Baosteel decided to construct 10,000 square meters of buildings of color coated steel sheet for Bureau 10. When the project began, Baosteel has been working on the design according the general plan of Dujiangyan. Now the project is moving on smoothly.

Baosteel to build second COREX－C3000 by 2010(2008/6/11)

Baosteel Co has confirmed to build world’s second COREX－C3000 iron making project by 2010 as part of the second step of Pudong Steel relocation Luojing project and published detailed schedule such as foreign negotiations, signing contracts, preliminary examination for engineering, equipment booking and manufacturing. Baosteel’s medium plate branch, contractor of the project, has completed project engineering and finished nearly 1,000-cubic-meter of pile foundation.

Baosteel Zhanjiang Iron and Steel Base Project’s supplementary projects move on smoothly(2008/6/10)

On 3rd June, Jianjiang water supply project launched operation, which involved an investment of nearly 3.0 billion Yuan, and has a capacity of 280 million cube meters per year, marking the supplementary projects of Zhanjiang 10 million iron and steel base project having achieved great progress.
In March 2008, Zhanjiang Iron and Steel Base Project gained approval from State Council, and from then on the supplementary of project began.
Now Maoming to Zhanjiang part of Luozhan Railway Line has been listed in the key new projects in Guangdong, the design of branch line connecting the site of Zhanjiang Iron and Steel has been handed in to Ministry of Railways, and the branch line will be construct the same time as the project. Zhanjiang Longteng Logistic Project launched construction in 2007, and phase one will be completed in March 2009, including oxygenated pellet project, raw material yard, wharf and the common facilities.
Zhanjiang Iron and Steel Project will be constructed by Baosteel, Shaogang and Guanggang, and is scheduled to be completed by the end of 2011. The project has a planned investment of 69.6 billion Yuan in total, and has an annual capacity of 10 million tons, and the main products are high grade steel products which are in tight supply in China.

Masteel steps up efforts to scrap backward in 2007(2008/6/10)

In 2007, Masteel dismantled five 300-cubic-meter blast furnaces and one 90-square-meter sintering machine, started operating No1-4 coke dry quenching (CDQ) projects, introduced CDQ process in all six coke ovens at old area, carried out bag dust-removal update on two boilers at energy plant, dust-removal update on No 1 LF furnace at No 1 rolling plant and update on three water recycling systems at wheel company.
Masteel’s thermal power plant and No 2 Machinery Manufacturing plant were among the four greenfield