History of Shanghai Baosteel
In 2015, Shanghai Baosteel was the 5th largest steelmaker in the world and produced ~35 million tonnes (mt) of steel. In 2016, following the merger with Wuhan Iron & Steel, the business was renamed as the China Baowu Iron & Steel Group.
The timeline below covers the history of Baosteel until the merger.
- 1977: Shanghai Baoshan Iron & Steel founded.
- 1985: Commissioning of BF #1.
- 1991: Commissioning of BF #2.
- 1993: Change of name to Baoshan Iron & Steel (Group) Corporation.
- 1994: Commissioning of BF #3.
- 1998: Merger with Shanghai Metallurgical Holding/Shanghai Meishan
- 1998: Creation of the Shanghai Baosteel Group Corporation.
- 2000: Listing on Shanghai Stock Exchange.
- 2003: Acquisition of the Lubao Steel Pipe Corp & Baogang Yichang.
- 2005: Plan announced for state-of-the-art works in Guangdong.
- 2004: Jv with Arcelor - automotive sheet products.
- 2007: Hangang & Baosteel sign agreement to set up HanBao Steel.
- 2009: Joint plan with Hangzhou I&S for takeover of Ningbo I&S .
- 2009: Start up of cold-rolling mill at Meishan Steel.
- 2011: Jv discussions with Vale for $6 bn works in Espirito Santo.
- 2011: Talk of Baosteel interest in a stake in Malaysia's Lion Group.
- 2011: Strategic target of 66 mt / year steelmaking capacity by 2015.
- 2012: Government go-ahead given for $11bn Guangdong project.
- 2012: Australian venture with Fortescue in lower-grade iron ores.
- 2013: Baosteel signs coking coal supply agreement with Russia's Mechel.
- 2013: Zhanjiang Iron and Steel Co steel plant project formally begins.
- 2014: Baosteel takes control of Aquila Resources (ore and coal).
- 2015: Iron production commences at new blast furnace in Zhanjiang.
- 2016: Acquisition by Baosteel of Wuhan Iron & Steel.
- 2017: For subsequent developments, see Baowu history page
- Start-up: Main production facility was located in the Baoshan District near the port of Shanghai - hence the name of the works.
- 1977: From its founding, Baosteel received much technological support from foreign firms, especially from Nippon Steel in Japan.
- 2005: Guangdong province project is a 20 mt / year plant costing $12 billion at Zhanjiang planned for start-up in 2012.
- 2009: This initiative with Hangzhou Iron and Steel was very much in line with Government policy for industry consolidation and the development in China of steelmakers with annual stelmaking capacity of 50 mt or more.
- 2009: CRM start-up at Meishan represented a technology breakthrough for Chinese steelmakers, who were previously dependent on foreign equipment suppliers (especially from Germany) for rolling mill plant and equipment.
- 2012: Final approval was given to the Baosteel Group in May 2012 by Government to build a 10 million tonne per annum steel project at Zhanjiang port in Guangdong province.
- 2012: Shanghai Baosteel and Fortescue Metals Group to consolidate their magnetite interests in the Glacier Valley and Northstar mining leases into the Hong Kong based [Fortescue-owned] FMG Iron Bridge.
- 2013: Mechel coking coal supply agreement signed in March 2013 provides for purchase by Baosteel Resources of 960,000 tonnes per year of coking coal from Mechel Carbon, with prices adjusted monthly.
- 2013: Zhanjiang steel plant project involves construction of three sets of converters, five sets of refining equipment and three sets of stirring and desulfurization facilities. Completion of converter #1 and converter #2 is scheduled for December 2015. Commissioning of converter #3 is planned for September 2016.
- 2014: Regarding the 2014 $1.4 billion Aquila deal, the West Pilbara iron ore project is one of the key assets belonging to the target Aquila Resources.
- 2015: Zhanjiang No 1 blast furnace which was ignited on 25-Sep-15 has an annual capacity of 4.1 million metric tons of melted iron.
- 2016: The Q3 2016 acquisition of Wuhan I&S (Wisco) by Baoshan Steel is considered by industry analysts to be the first step in the creation of a steel producer second only in output to ArcelorMittal.
- November 2016: Baoshan Iron & Steel Co was renamed as the China Baowu Iron & Steel Group Co after the merger.
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