China Steel Corporation (CSC) of Taiwan will start construction of a cold rolling mill in South Vietnam in July. The firm plans to complete the all productive lines including a continuous galvanizing steel sheet line and a magnetic steel sheet line with a cold rolling mill until the end of December 2012 and start operations in early 2013 as scheduled. CSC aims to follow steel demand growth in Vietnam as well as in Southeast Asia and India.
The new cold rolling plant of China Steel Sumikin Vietnam Joint Stock (CSVC) is constructed in Bariavungtau Province, South Vietnam. Mr. Tsou Juo-chi, chairman of CSC, explained the plant site is being acquired in July while CSC already started foundation work in late May. CSVC is controlled by CSC with 51% shares, also by Sumitomo Metal Industries, Sumikin Bussan and Formosa. CSVC’s production capacity is projected at 1.6 million tonnes per year of cold rolling mill, 400,000 tonnes of CGL and 300,000 tonnes of magnetic steel sheet. Dragon Steel, CSC’s subsidiary, will mainly supply hot coil to CSVC. Mr. Tsou also eyes hot coil procurement from a new steel plant of Formosa in Vietnam.M | T | W | T | F | S | S |
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Japan Steel Scrap Composite Prices (Sangyo Press)
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