Baosteel Stainless Steel, Chinese stainless steel maker of Baosteel Group, plans to expand its crude steel output by 54% to 2 million tonnes per year in 2015 from 2012 by productivity improvement and company acquisition. Baosteel Stainless Steel also plans to raise the competiveness of Ningbo Baoxin Stainless Steel, a joint cold-rolling mill with Nisshin Steel of Japan. Baosteel Group tries to increase domestic production and to advance demand cultivation for high grade stainless steel products. Baosteel Stainless Steel’s president Lou Dingbo told reporter of Japan Metal Bulletin in Beijing, China.Crude steel output plan of Baosteel Stainless Steel is 1.3 million tonnes in 2012, slightly decreasing from the previous year. Cold rolling output plan is 300,000 tonnes at Baosteel Stainless Steel and 600,000 tonnes at Ningbo Baoxin Stainless Steel. The market is forecasted to slow down slightly. Stainless steel consumption is expected to keep expansion in China when inland areas are urbanized and environment responsibility is required. Baosteel Stainless Steel plans to increase its crude steel output to 2 million tonnes per annum from current 1.5 million tonnes by share acquisition in Fujian Desheng Nickel Product, a stainless steel maker of Fujian Wugang Group, and other measures. Baosteel Stainless Steel posted 245 million yuan of annual net profit in 2011, which accounted for 4.8% in Baosteel Group’s consolidated annual net profit at 5.06 billion yuan. The profit ratio downed due to high material cost and low sales price. Baosteel Group brought 2 business companies, Baosteel Stainless Steel and Baosteel Special Material, into its directly-owned 100% subsidiaries in order to improve business operation for better profitability. The Group tries to cultivate high grade stainless steel market related to automobiles and atomic power plants.
Japan Steel Scrap Composite Prices (Sangyo Press)09/24/2020
|26600YEN (-)||28600YEN (-)|
|249.88US$ (-0.73)||268.67US$ (-0.79)|
* Average of electric furnaces steel maker's purchasing price in Tokyo, Osaka and Nagoya (per ton)