Chinas Baosteel plans steel plate factory in Saudi ArabiaSat, 11 Sep 2021 00:00:00 GMT
Baoshan Iron & Steel Company (Baosteel), Chinas biggest listed steelmaker, said it has signed an initial agreement with the state oil giant Saudi Aramco to study building an integrated steel plate manufacturing facility in Saudi Arabia. This comes as part of the Saudi groups industrial investment programme, Aramco Namaat, which aims to drive the countrys economic growth and diversification. Aramco had recently signed 22 new MoUs and one JV agreement focused on capacity building in
Wisconsin SteelandTube announces expansionFri, 03 Sep 2021 11:23:00 GMT
Wisconsin SteelandTube Corp. has announced a 58,500-sq.-ft. addition to its Manitowoc, Wis., fabrication facility.
Chinese steelmakers halt production in SeptemberFri, 03 Sep 2021 00:00:00 GMT
Under pressure from output reduction policies, Chinese steel producers have chosen to conduct overhauls of equipment in order to achieve their set output targets. Most steel mills are being required to limit this years output below last years level,Kallanishnotes. Guangdong Shaogang announced on Wednesdaythat in the second half of the year, two blast furnaces
China to accelerate domestic iron ore exploration to secure domestic ...Fri, 30 Jul 2021 00:00:00 GMT
China Iron and Steel Association (CISA) vowed on Thursday to accelerate development of domestic iron ore source and the construction of overseas iron mines invested by Chinese companies in order to secure the countrys iron and steel supply during the 14th Five-Year Plan 2021-25. Shen Bin, president of CISA, said that the organization will take a series of measures to ensure iron ore supply, including increasing self-supply rate of iron ore, and enlarge the number of Chinese companies
China Unrivaled in Crude Steel ProductionTue, 06 Jul 2021 00:00:00 GMT
The World Steel Association recently announced that China Baowu Steel Group beat ArcelorMittal and became the worlds largest steel company last year, with a crude steel production volume of 115.29 million tons. The state-run Chinese company has acquired multiple Chinese steel companies for years. ArcelorMittal fell to the second place with 78.46 million tons. Last year, its crude steel production dropped from 97.31 million tons due to production setbacks attributable to COVID-19.
China Steel to raise prices for the 12th straight monthMon, 17 May 2021 00:00:00 GMT
China Steel Corp, Taiwans largest steelmaker, on Thursday said that it is raising domestic steel prices by 8 percent on average for delivery next month, reflecting climbing steel demand worldwide and increased manufacturing costs due to higher raw material prices. The Kaohsiung-based company is hiking prices for a 12th consecutive month, taking a cue from its Chinese counterparts Baosteel Group Corp and Wuhan Iron and Steel Corp, as well as Formosa Ha Tinh Steel Corp in Vietnam. Formosa Ha
Chinese steel industry posts production expansion in Jan.-Mar. ...Wed, 05 May 2021 00:00:00 GMT
The China Iron and Steel Association (CISA) said that the Chinese steel industry witnessed production growth in the first three months of 2021. In the first quarter, crude steel production climbed 15.6 percent annually to 271 million tonnes. Figures from the National Bureau of Statistics said as quoted by the CISA that the production increased 17.3 percent from the very period in 2019, bringing the average expansion for the last two years to 8.3 percent. The figures demonstrated that the
China Baosteel posts biggest profit increase in nine quarters ...Tue, 27 Apr 2021 00:00:00 GMT
Chinas biggest listed steelmaker Baoshan Iron & Steels net profit surged 247.8% in the first quarter to its highest since the fourth quarter of 2018, the company said on Monday, thanks to robust steel consumption and cost reduction efforts. Known as Baosteel, the steel group earned 5.4 billion yuan ($832.50 million) in the first quarter, up 11.2% from the fourth quarter in 2020 and compared with 1.5 billion yuan net profit in January-March last year. Supported by both domestic
China steelmakers expect strong Q2 demand, drop in iron ore prices ...Sat, 20 Mar 2021 00:00:00 GMT
Chinas steelmakers foresee a strong second quarter on continued high demand and expect raw material prices to fall from recent peaks as supply tightness eases, the countrys steel association said on Thursday. HBIS Group and Anshan Iron and Steel, two major steel firms in top producer China, were among those to take part in a seminar organised by the China Iron and Steel Association (CISA) to discuss recent developments and future trends. Participants expected the April-June period to see a
The case for bringing weld training in-houseWed, 10 Feb 2021 07:00:00 GMT
Two Midwest metal fabrication shops, DeWys Mfg. of Michigan and Schuette Metals of Wisconsin, share how the investment in welding training programs has helped them find, hire, and prepare welders for long-term
Wisconsin Steel and Tube adds laser technologyWed, 20 Jan 2021 11:45:00 GMT
Milwaukee-based steel service center Wisconsin Steel and Tube continues its evolution into contract manufacturing with the addition of two Bystronic laser tube cutting systems. The machines will be available for projects starting in Q2 2021. The ByTube 130 machine employs fiber laser
Steel/Metal Industry: Baosteel to Raise Flat Product Prices in ...Sat, 09 Jan 2021 00:00:00 GMT
Baosteel has raised its February domestic distribution prices for HR, CR, and plate products by RMB350/ton, RMB400/ton, and RMB300/ton, respectively. Driving the price hikes are iron ore price expansion and solid demand. Product price hikes in reflection of rising costs should help domestic steel players to enjoy profitability improvement. Baosteel raises February distribution prices due to surge in iron ore prices Chinas Baosteel (600019.SH) has decided to raise its February domestic
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