Chinese Steel Giant Baosteel Reports Stellar Quarter Despite ...Sat, 30 Oct 2021 00:00:00 GMT
Chinese listed steel producer Baoshan Iron & Steel Co Ltd said on Friday its third-quarter net profit rose 68.6per cent on an annual basis, defying intensified pressure from production curbs and higher raw material prices. The steel giant, known as Baosteel, pocketed 6.5 billion yuan (US$1.02 billion) during the July-September quarter, it said in a filing to the Shanghai Stock Exchange. That was down from 9.7 billion yuan it earned in the second quarter but still well above profits the
Baosteel says it will fight Nippon Steels patent infringement ...Sat, 16 Oct 2021 00:00:00 GMT
Chinas Baoshan Iron & Steel Co Ltd (Baosteel) said on Thursday it did not agree with Japanese rival Nippon Steels claims that it infringed patents. Nippon Steel said on Thursday it had filed lawsuits against Baosteel and Toyota Motor Corp with a Tokyo district court. Baosteel said in a statement it had repeatedly approached Nippon Steel about the claim and was rebuffed, calling this regretful. The company said it had strictly followed regulations and would actively respond to the
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 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.
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