Baoshan Iron & Steel Co plans to commission a new 400,000-ton-a-year heavy plate line this month, hoping that one of its most profitable businesses can offset weaker sectors hit by the economic slowdown.
This will bring its annual capacity in Shanghai to 1.8 million tons for heavy plates, used mainly in shipbuilding, ocean industries and energy [...]
Baosteel Group Corp., China’s biggest steelmaker, is facing its “most difficult” period since its founding 30 years ago as global economies grapple with a slowdown and credit crisis, an executive said.
Baosteel’s output, sales and profit has plunged, and the company should cut capital expenditure, General Manager He Wenbo said in the Shanghai-based company’s regular newsletter.
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Baoshan Iron and Steel Co Ltd (Baosteel), the country’s largest steelmaker, has cut sale prices of its main products for December by as much as 1,000 yuan, making it the fourth such reduction this year.
In a notice to customers, the listed unit of the country’s largest steelmaker said it is reducing prices on five categories [...]
China’s Baoshan Iron and Steel Co Ltd has cut its sales prices for cold-rolled steel products for December by a further 970 yuan ($142) per tonne, trade sources said on Thursday.
Baosteel, the listed unit of the country’s largest steel maker, had already lowered its offer prices twice since it released its fourth-quarter base sales prices, [...]
China’s chances of gaining greater influence at the upcoming iron ore price negotiations are slim, despite the increased demand expected to result from the nation’s 4-trillion yuan economic stimulus package, experts said.
Rio Tinto, the world’s second-largest iron ore producer, said on Oct 10 it would cut its output by 10 percent due to shrinking demand [...]
Australian miner Fortescue Metals Group Ltd (FMG.AX: Quote, Profile, Research, Stock Buzz), which relies solely on sales of iron ore to China’s steel sector, on Monday denied a report it was in talks to sell a stake in the company to a Chinese sovereign wealth fund.
The South China Morning Post reported that China Investment Corp [...]
