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Zhanjiang Port, Baosteel set up strategic alliance（2008/07/21）
With its 300,000 dwt sea-route and an annual throughput of 53.468 million tons last year, Zhanjiang Port has become an ideal option for the Zhanjiang Steel Project, a joint venture between Baosteel and Zhanjiang Port Co., Ltd.
Construction of the project kicked off on December 3, 2007 when Zhanjiang Longteng Logistics Co., Ltd. spent 3 billion yuan to build a 5 million t/y pellet plant, as an upstream chain of the Zhanjiang Steel Project. The pellet project, in which Zhanjiang Port holds 8% stake, includes a 50,000 dwt dock, raw materials yard, pellet production line and assistant facilities, and is due to launch in the first half of next year.
Furthermore, Zhanjiang Port is promoting the construction of railway branches in the East Island and will build two large public docks nearby the steel plant in the island.

Shougang ready to halt for Olympics（2008/07/18）
Key enterprises and industries including metallurgy, construction materials and petroleum chemistry have constituted detailed scheme of production suspension and emissions reduction during the Beijing Olympic Games.
More than 150 major polluting enterprises are ready to halt their production during the Games. Shougang will suspend operations of its No 3 blast furnace, one converter at No 2 steelmaking plant and two sintering machines and run at a monthly pace of 200,000 tons, decreasing by about 70% from its normal level.

Daye Iron Mine adds 14.12 million tons of ore reserves（2008/07/18）
According to the assessment report examined by professionals from Ministry of Land and Resources, the ore reserves of Daye Iron Mine added by 14.1229 million tons. And the professionals believe there may be still possible reserves around and in Daye Iron Mines. Since March 2005 when Daye Iron Mine began the exploration project, 23.00 million tons of magnetite reserve (including estimated resources) has been discovered.
Cooperation with research institutes, Daye Iron Mine further analyzed the data gained and improved the report. In April, the mine handed up exploration report for succeeding mines to Ministry of Land and Resources. According to the report, based on 333 and 334 standard of international resource reserve standard, the mine will add ore reserves by 14.1229 million tons, 4.069 million tons.

Hebei Steel Group inks long-term coking contract（2008/07/17）
Hebei Iron and Steel Group Tangshan Steel Co., Ltd. has signed a 15-year strategic agreement with Shanxi Meimian Group and Shanxi Guangda Coking Company. Meimian Group, the largest private-owned enterprise in Shanxi, has an annual coke output of 5.4 million tons and clean coal capacity of 10 million tons, and runs captive coalmines with an exploitable reserve of 2 billion tons. Guangda Coking has a coke output of 1.7 million tons per year and clean coal capacity of 2 million tons. Both companies will ensure a stable coke and coal supply for Tangshan Steel with their reliable transportation systems.


Dongbei Special Steel and China FAW together develop new materials for automobile（2008/07/17）
Recently, Dongbei Special Steel Group and China FAW Group signed cooperation agreement. the two companies, both of who have national technology centers, will form a work group to develop the utilization of non quenched and tempered steel on auto production, therefore enter the market of new materials for auto production. FAW will put Dongbei Special Steel as the research and develop and production base of non quenched and tempered steel for autos.
According to the persons in charge, the group will formed the technology centers of the companies, and will divided into five teams which will focus on developing steel for front axe, connecting rod, half-shaft, steering knuckle and turning arm, gear, bolt and so on, and a new material, of low cost, non quenched and tempered to substitute 40Gr.

Huaigang realized profit of 664 million Yuan during the first half(2008/07/16)
Till the end of June 2008, Huaigang Special Steel Company Ltd of Jiangsu Shagang Group produced 1,465,700 tons of steel, increasing by 56.26% from that of the same period in 2007; 1,313,500 tons of finished steel, up 52.1%; 1,342,700 tons of iron, up 57.53%; 1,799,400 tons of siner, up 103.28%; 409,400 tons of coke, up 111.79%; and generated electricity 172,603,300 kwh, up 81.52% with the same comparison. During the first six months of 2008, the company had an industrial production vale of 6.87 billion Yuan, increasing by 107.95% from a year ago, and realized sale income 7.638 billion Yuan, up 66.12%; revenue 1.035 billion Yuan, up 152.60%, including profit 664 million Yuan, up 174.26%. The sale income, revenue and profit amounted 116.61%, 149.75% and 156% of the half year plan, respectively.

Xiangtan Steel commissions second wide plate mill(2008/07/16)
Valin Group Xiangtan Iron and Steel Group Co Ltd hot commissioned its second 3.8m wide plate mill on June 28 for a total investment of more than 1.7 billion yuan.
The mill has an annual design capacity of one million tons with actual output exceeding 1.2 million tons. Coupled with the first 3.8m double-stand mill launched in October 2005, Xiangtan Steel’s total wide plate output has topped 3 million tons per year.
　

Hanggang realized a sale income of more than 10 billion Yuan from iron and steel business(2008/07/15)
During the first six months of 2008, Hanggang Group realized sale income 35.0 billion Yuan, and profit 1.19 billion Yuan, including 10.030 billion Yuan of sale income from Banshan Iron and Steel base, which is 1.046 billion Yuan more from that of the same period in 2007, accounting 71.64% of the year plan. During the first half of 2008, the company had sold steel products 2.0288 million tons, increasing by 229,100 tons, 12.73% from that of the same period in 2007.

China's Sinosteel wins takeover bid for Australia's Midwest(2008/07/15)
(Xinhua) -- China's second-largest iron ore trader, Sinosteel Corp., announced it had won a controlling share of Australian iron ore miner Midwest Corp. as of July 10.
Sinosteel offered 6.38 Australian dollars (6.17 U.S. dollars) cash per share for Midwest. It now holds 213,840,550 shares, or 50.97 percent, of the company. The total offer stood at 1.36 billion Australian dollars.
On July 10, Sinosteel appointed three board directors to Midwest: deputy general manager of Sinosteel Mining Development WuHongbin, general manager of Sinosteel Australia Mining Cheng Sijunand Australian lawyer Ian MaCubbin. The appointments took effect as of July 11.
Fang Fang, JPMorgan China's chief executive officer, said the bid was of great significance for Chinese companies seeking overseas takeovers. The bid was the first successful hostile takeover by a Chinese company.JPMorgan advised Sinosteel in the bid.
Sinosteel was the first Chinese company to participate in overseas mining projects. In 1988, it began to develop the ChannarIron Mine in Australia's Pilbara with local companies.
　

The output of Tanggang Company’s main products had a steady growth（2008/07/14）
During the first six months, though facing difficulties in transportation and electricity supply caused by snow disaster in Southern China, and the main equipments having several repairs, Tanggang managed to keep the output of the strategic products growing steadily, and completed more than half of the year’s target within six months. During the first half, Tanggang produced 7.8365 million tons of iron, increasing by 30.18% from that of the same period in 2007; 8.1420 million tons of steel, up 23.32%; 6.6882 million tons of finished steel, up 10.55%.

Ansteel expands non-steel business（2008/07/14）
Ansteel general manager Zhang Xiaogang said the group has taken measures to extend industry chain and move towards a diversified development mode.
For example, the group agreed to set up a 50:50 refractory materials joint venture with British Vesuvius China Holding Co Ltd on July 5. In June, it signed deal to set up a 50:50 tire cord quality wire rod joint venture in Chongqing with Belgian Bekaert Group, and tied strategic partnership with US’s GE so as to enhance capability in making and assembling low voltage apparatus.
　

Wisco made new records on production and performance for the first half（2008/07/10）
According to the statistics issued by Wuhan Iron and Steel Company (Wisco), during the first half of 2008, the company produced 10.71 million tons of iron, 11.25 million tons of steel and 10.61 million tons of finished steel, increasing 55.44%, 54.79% and 58.08% from those of the same period in 2007 respectively. Meanwhile, the company had a sale income of 89.79% higher from a year ago, and the net profit was 20.48% higher than that of the corresponding period in 2007. All these mentioned above made new records, which gave a great present for the 50th anniversary of Wisco.

Shougang Holding remerges AJ Corporation（2008/07/10）
Shanghai AJ Corporation has signed a cooperative frame agreement to non-publicly issue 120 million shares to a joint venture 70%-owned by Shougang Holding (Hong Kong) Ltd, accounting for 16% of its total capital stock, which will allow Shougang Holding to replace currently 14%-owned Shanghai Business Patriotism Construction Special Fund as the biggest shareholder of AJ Corporation and the second largest shareholder of AJ Trust. Li Jiacheng will hold remaining 30% in the jv.
AJ Corporation, consisting of trust companies, securities companies, real estate companies and import & export businesses, achieved profit after tax of 365 million yuan in 2007. As of December 31, 2007, Shougang Holding had a registered capital of one million HK dollar, total assets of 7.5 billion HK dollar and net assets of 4.1 billion HK dollar. In 2007, it achieved an operating income of 15.6 billion HK dollar and profits of over 1.6 billion HK dollar.
　

Baotou Steel hits record output(2008/07/09)
During the first half of 2008, Baotou Steel produced 4.5807 million tons of pig iron, up 6.39% year-on-year, 4.673 million tons of crude steel, up 10.08% and 4.4496 million tons of merchant billet and steel products, up 10.63%.
The mill produced 1.3391 million tons of hot rolled wide strip during the same period, 722,700 tons of cold hard coil, 359,600 tons of skin-pass coil, 170,700 tons of galvanized strip, 36,000 tons of cold rolled sheet, 396,400 tons of seamless pipe, 71,100 tons of OCTG and 405,600 tons of rails.
The producer achieved an average BF utilization coefficient of 2.053, up 0.004, a charged coke ratio of 432.68kg, a BF coal injection ratio of 119.45kg, blending iron ore concentrates grade of 65.54%, up 0.09 percentage points, comprehensive iron ore concentrates grade of 65.93% and converter continuous casting ratio of 98.39%, up 0.97 percentage points.
It delivered 809,200 tons of products in June, including 634,500 tons by rails and exported 573,400 tons of billet and products during the first half, earning $410 million, up $103 million.

Sinosteel bids to buy Aussie ore miner alone(2008/07/09)
Sinosteel Corp is now the sole bidder in the takeover of Australian iron ore prospector Midwest Corp after Murchison Metals Ltd withdrew its offer to merge with Midwest.
Murchison said in a statement yesterday that, after talking with Sinosteel over the weekend, it decided to terminate the merger plan as it "is now clear" that Sinosteel will not support the merger on terms which would be acceptable to Murchison.
Murchison in May proposed a merger with Midwest via a share swap, which initially represented a premium to Sinosteel's 6.38 Australian dollars cash (6.11 U.S. dollars) offer before Murchison's shares declined.
Sinosteel, which held 45.58 percent of Midwest as of last Friday, last month said Murchison violated Australia's corporate code as one American shareholder of Murchison bought Midwest shares without approval. The Australian takeover body ruled in favor of Sinosteel.
"It was disappointing that the merger would not proceed at this time given the tremendous value that both Murchison and Midwest believe could be generated by combining their assets,'' said Paul Kopejtka, executive chairman of Murchison.
A spokesman for Beijing-based Sinosteel said it's pleased with Murchison's move, and would now focus on pursuing its takeover and is confident it would gain more acceptances.
Still, Murchison said it wouldn't accept Sinosteel's A$6.38 offer in respect of its 10 percent stake in Midwest, as it intends to play an active role in the company and will seek to maximize the value of its shareholding.
Midwest was unchanged at 6.38 Australian dollars yesterday, the same level as Sinosteel's offer price, ahead of Murchison's announcement.
Contract prices of iron ore, used to make steel, have risen for six consecutive years, prompting steel makers to secure more supplies.

Pudong Steel’s remove project speeded up(2008/07/08)
The second phase of Pudong Steel’s remove work has further speeded up. During the fist half of 2008, the project completed 103.32% of engineering shop drawing at various units, 112.5% of non-standard engineering commitment, 130% of tender document for equipment and 163.5% of equipment list delivery. Besides, reinforced concrete construction for COREX iron making and continuous casting and piling for coal injection project have completed 175%, 133% and 100% respectively compared with original plans.

Xianggang realized a profit of more than 1.0 billion Yuan for the first half(2008/07/08)
According to the finance report from Xiangtan Iron and Steel Group, the group realized a profit of more than 1.0 billion Yuan during the first six months of 2008, making up the losses caused by the snow disaster at the beginning of 2008.
Xianggang almost stopped production during the snow disaster. To make up the losses, the company put more attentions on the strategic products. On 9th April, first batch of 180 tons of wire rod for steel wire cord and 300 tons of wire rod for bead wire ring was delivered to the largest steel wire cord producer in the world, Bekaert Company. The wide plate is another product with high profitability in Xianggang. In April, high grade pipeline steel, X70 steel was utilized in the gas transportation project in Middle Asia; the first batch of plate for offshore oil project was delivered to CNOOC. The high grade plate for engineering machineries was developed in May. Till now, the wide plate from Xianggang has made fame among the consumers, and the sale prices are only lower than those of Baosteel. On 28th June, the second 3.8-meter wide plate production line launched production, which lift the wide plate production to 2.00 million tons per year or so, accounting 90% of the output of plate and sheet.
　

Bayi Iron and Steel is expected to have a net profit for the first half of 200% higher（2008/07/07）
According to the primary calculation by finance department of Bayi Iron and Steel Company Ltd, the company is expected to have a net profit for the first half of 2008 200% higher than that (134,533,679.49 Yuan) of the same period in 2007. The accurate figure will be issued in the half-year report.

Baosteel develops deep drawing HD zinc-aluminum products（2008/07/07）
Baosteel has become one of the few steelmakers worldwide capable of producing deep drawing hot-dip zinc-aluminum products DC53 and DC54
With excellent impacted tenacity and corrosion resistance, the products are 5-6 times as much as ordinary galvanized products in terms of corrosion resistant property and mainly used in home appliances.
Baosteel has started commercial shipment of such materials for renowned air conditioning makers like Mitsubishi and Daikin.

China's Baosteel agrees with BHP Billiton on iron ore price increase（2008/07/07）
(Xinhua) -- Baosteel, China's largest steel maker, said Friday it had agreed with BHP Billiton on a price increase of up to 96.5 percent for iron ore in 2008, nearly double that of 2007.
The prices were to increase by 79.88 percent to 96.5 percent, respectively, depending on the category of iron ore, the company said in a statement on its website.
"As an outcome of these negotiations, the iron ore prices for Newman Fine Ore and Yandi Fine Ore, increased by 79.88 percent, and the price for Newman Lump Ore increased by 96.5 percent relatively to 2007," said Baosteel in a web announcement.
The price rise is in line with experts' predictions and followed the settlement between Baosteel and Australian miner Rio Tinto last week.
Baosteel, which negotiated on behalf of China's steel industry, said on June 23 it agreed to a 79.88 percent price hike for Pilbara blend fines and Yandicoogina fines and a 96.5 percent price rise for Pilbara Blend Lump for the contract year starting on April 1.
Baosteel agreed in February on a 65 percent price rise for iron ore from Brazilian miner Vale. Rio Tinto and BHP Billiton then demanded a "freight premium," claiming it costs less to ship iron ore from Australia to China.
　

Jinxi Iron and Steel invests 1.34 billion Yuan to construct a coke plant（2008/07/04）
--with a capacity of 2.20 million tons, the self production of coke could reduce the costs for steel products, and secure a stable supply
Hebei Jinxi Iron and Steel Company Ltd, a subsidiary of China Oriental Group Company Ltd, plans to invest 1.34 billion Yuan to construct a coke plant with a capacity of 2.20 million tons per year. According to Oriental Group, Jinxi Iron and Steel has signed contract with MCC Jingtang Construction Corp. Ltd, including project design, equipment purchase, and construction, and the construction period is 26 months.
According to Oriental Group, as one of the major materials for steel production, Jinxi Iron and Steel now is totally dependent on outsourced coke. Constructing a coke plant could reduce the costs for steel production and secure a stable supply.
Jinxi Iron and Steel is mainly involving in production and sale of iron and steel products, of which Oriental Group holds a stake of 97.6%.

Liugang has developed into a 10 million tons modern iron and steel company in 50 years（2008/07/04）
On 1st July, Guangxi Liuzhou Iron and Steel (Group) Company held a ceremony for the 50th anniversary.
Liugang was established in 1958. During the past 50 years, Liugang has developed from a small plant with a capacity of 100,000 tons per year or so into a large modern iron and steel producer in China, and been listed in the top 500 companies in China for years. From 2000 to 2007, Liugang spent more than 12 billion Yuan on technology improvement, and demolished the small production lines like of wire, seamless pipe and sheet and so on with small blast furnaces, small converters, electric furnaces, coking furnaces and so on, while formed a product mix with medium plate, high speed wire, continuous rolling rod, hot rolled and rolled plate and strip as the strategic products, and the ratio of plate and strip exceeds 65%. In 2008, the company will expand the iron and steel capacity to 10 million tons per year, and the sale income in 2007 was 28.6 billion Yuan.
Entering the new century, Liugang has invested more than 1.7 billion Yuan on controlling the industrial wastes, while focusing on economy development, and has realized the environment protection targets, wining the national prize for the achievements on recycling economy. During the first 8 years in the 21st century, Liugang has had a profit tax of 12.5 billion Yuan, and ranked 139th among the top 200 ratepayers in China in 2007.
　

Wuhan Pingmei Wisco Joint Coking Company was established（2008/07/02）
On 28th, Wuhan Pingmei Wisco Joint Coking Company was established.
Chen Jiansheng, board chairman of Henan Pingdingshan Coal Company (Pingmei), said in a speech, “The establishment of the joint company is an important step for both companies’ further cooperation and construction of economic union. The new company will help Pingdingshan Coal to expand the coking capacity and the product mix, and construct new type energy chemistry group. On the other side, the new coking company will secure the raw material supply for Wisco (Wuhan Iron and Steel Company), and help strengthening and lifting the influence in the iron and steel industry.”
Li Chunming, vice governor of Hubei Province, said, “Wisco has advantages on professionals, fund and technology, while Pingmei is one of the largest coking coal production base, with the fullest specifications. The strategic cooperation of the two is in accord with the national industry policy, and is a win-win cooperation and helps both companies’ sustainable development. Hubei provincial government will support the new company and provide good services.”

Ansteel, Yingkou port tie the knot（2008/07/02）
Anshan Iron and Steel Group Co Ltd (Ansteel) and Yingkou Port Group Co Ltd inked a strategic cooperative agreement on June 24.
With the rapid development in recent years, Ansteel has become the largest client of Yingkou port, the nearest outlet to sea for the mill, with the mill’s annual throughput via the port accounting for nearly 10% of totals there. Yingkou port has become one of the 10 largest ports in China with its throughput topped 100 million tons last year, and is expected to reach 200 million tons by 2010.
　

Hebei Dongshan Metallurgy began phase one of the 1.00 million tons steel rolling project（2008/06/24）
On 13th June, Hebei Dongshan Metallurgy Industry Company Ltd held a ceremony for phase one of 1.00 million tons I beams, angle and channel steel rolling project breaking ground, which means the project launched construction virtually.
The investment for the 1.00 million tons I beams, angle and channel steel rolling project totals 200 million Yuan, with phase one having a time limit of six months, and an investment of 100 million Yuan. The investment recovery period is 18 months. Phase two is to begin in early 2009. When the project completed, the company will have an iron capacity of 1.00 million tons per year, and an equaling capacity for steel and steel products respectively.
　

Baosteel realizes batch production of X80 pipeline plate（2008/06/23）
Baosteel has realized batch production of plate in 22mm thick for X80 large diameter straight welded pipe used in the second west-east gas transportation line by producing over 10,000 tons of such material for two consecutive months, with a reduction of 50% in cold rectification ratio.
The group embarked on the industrial development of this plate early last year before succeeding in trial production this February.

Ansteel merges with Tiantie Steel Sheet（2008/06/23）
Anshan Iron and Steel Group (Ansteel) completed capital increase and share expansion in Tiantie Steel Sheet Co Ltd yesterday afternoon, which was equally held by Ansteel and Tiantie Group. Ansteel is the world’s largest supplier of container steel and one of the domestic producer of high-grade auto panel with a premium steel capacity of 25 million tons per year after a 60-year-plus of development while 40-year-old Tiantie is a large state-owned steel producer with an annual steel capacity of 8 million tons.
　

Wuhan Iron and Steel Group’s Roller Company Ltd established(2008/06/12)
On 6th, Roller Company Ltd of Wuhan Iron and Steel Group was established after reform.
It is said that, with Wugang Group’s support, Roller Company has begun the “11th Five-year” Development Plan. With technology improving project phase one moving on smoothly, the company may reach a high grade roller capacity of 30,000 tons per year by 2009; when the phase two completed, the capacity will be lifted to 60,000 tons to 80,000 tons per year. Till then, the company will have an improved product specification, production scale and quality, giving better services to Wugang and the customers in domestic and abroad.

Tianjin Steel commissions CR sheet project(2008/06/12)
Tianjin Iron and Steel Group (Tianjin Steel) officially started operations of a cold rolled sheet project, one of the 40 key industrial items in Tianjin, with an annual CR sheet capacity of 1.5 million t/y and galvanized sheet capacity of 600,000 t/y in the first phase at a cost of 3.5 billion yuan. The project, broke ground on October 28, 2006, adopts world’s most advanced processes and facilities including one pickling-cold rolling complex machine and one continuous hot-dip galvanized machine, with products covering almost all high-end cold rolled products such as auto, household apparatus and high-grade construction steels.
　

Baosteel to build second COREX－C3000 by 2010（2008/06/11）
Baosteel Co has confirmed to build world’s second COREX－C3000 iron making project by 2010 as part of the second step of Pudong Steel relocation Luojing project and published detailed schedule such as foreign negotiations, signing contracts, preliminary examination for engineering, equipment booking and manufacturing. Baosteel’s medium plate branch, contractor of the project, has completed project engineering and finished nearly 1,000-cubic-meter of pile foundation.

Baosteel to construct 10,000 square meters of buildings of color coated steel sheet in Dujiangyan（2008/06/11）
According to the arrangement by local government of Dujiangyan, the project of constructing 10,000 square meters of buildings of color coated steel sheet in Dujiangyan for Bureau 10 by SinoHydro Corporation began recently, and the project is donated by Baosteel.
As the largest hydropower construction company in China, Sinohydro Corporation ranks the 89th among the top 500 companies in China, and the 51st among the world’s major contactors of large projects. The earthquake in Wenchuan severely damaged the subsidiaries of Sinohydro Corporation in Sichuan Province, in particular the Bureau 10.
To help the company recover from the disaster, Baosteel decided to construct 10,000 square meters of buildings of color coated steel sheet for Bureau 10. When the project began, Baosteel has been working on the design according the general plan of Dujiangyan. Now the project is moving on smoothly.
　

Masteel steps up efforts to scrap backward in 2007(2008/06/10)
In 2007, Masteel dismantled five 300-cubic-meter blast furnaces and one 90-square-meter sintering machine, started operating No1-4 coke dry quenching (CDQ) projects, introduced CDQ process in all six coke ovens at old area, carried out bag dust-removal update on two boilers at energy plant, dust-removal update on No 1 LF furnace at No 1 rolling plant and update on three water recycling systems at wheel company.
Masteel’s thermal power plant and No 2 Machinery Manufacturing plant were among the four greenfield enterprises identified at an environmental appraisal meeting in Maanshan city and 16 units were awarded as blue enterprises.

Baosteel Zhanjiang Iron and Steel Base Project’s supplementary projects move on smoothly(2008/06/10)
On 3rd June, Jianjiang water supply project launched operation, which involved an investment of nearly 3.0 billion Yuan, and has a capacity of 280 million cube meters per year, marking the supplementary projects of Zhanjiang 10 million iron and steel base project having achieved great progress.
In March 2008, Zhanjiang Iron and Steel Base Project gained approval from State Council, and from then on the supplementary of project began.
Now Maoming to Zhanjiang part of Luozhan Railway Line has been listed in the key new projects in Guangdong, the design of branch line connecting the site of Zhanjiang Iron and Steel has been handed in to Ministry of Railways, and the branch line will be construct the same time as the project. Zhanjiang Longteng Logistic Project launched construction in 2007, and phase one will be completed in March 2009, including oxygenated pellet project, raw material yard, wharf and the common facilities.
Zhanjiang Iron and Steel Project will be constructed by Baosteel, Shaogang and Guanggang, and is scheduled to be completed by the end of 2011. The project has a planned investment of 69.6 billion Yuan in total, and has an annual capacity of 10 million tons, and the main products are high grade steel products which are in tight supply in China.
　

Nine colored steel suppliers in Hebei promised sure supply and no prices increases(2008/06/02)
Nine colored steel suppliers in Hebei Province, who take duty of supplying colored steel for prefabricated houses for earthquake-hit region in Sichuan, have made a promise that they will secure the supply and control the costs and no increases in prices.
Hebei Province is asked to supply 80,000 prefabs, which need 10.84 tons of colored steel. Tangshan Iron and Steel Group Company Ltd, Handan Iron and Steel Group Company Ltd and other 7 companies will be in charge of steel supply.
Meanwhile, the companies have promised to secure a higher quality of the steel.
　

China's economy able to expand over 8% for long time
China's economy can maintain a steady growth above 8 percent for a relatively long period because of a stable society, a vast market and ample capital, said Cheng Siwei, an economist and former vice chairman of the Standing Committee of the National People's Congress.
"China's economy can stay in the fast developing track if we work hard and pay enough attention to existing problems," Cheng said at a three-day forum with the theme of "Economic globalization and the choice of Asia: transition, growth and welfare" Wednesday in Shanghai.
"Social stability is crucial to economic development while China has a market of 1.3 billion people, which creates a huge consumption power," said Cheng. "Meanwhile, China's foreign reserves have reached US$1.68 trillion, and it has built up an ample capital pool."
China also beefed up its efforts to improve education and expand its coverage, which paved the way for sustainable economic development, he said, but added that there were problems China could not afford to ignore.
One of them was the yawning gap between the rich and the poor. The income of urban residents has tripled that of rural households while the purchasing power in cities was four times larger than that in rural areas.
China faced increasing pressure to protect the environment and in securing raw materials and resources for its economy. It also lacks a large pool of senior professionals in finance and management.
"For example, we buy a lot of the United States treasury bonds. It means appointing them (US bond managers) to manage our assets and we only gained a little bit of interest," said Cheng. "We are trying to work on such problems."
Cheng estimated China's per capita GDP can reach US$3,000 by 2010, US$5,000 by 2020 and US$10,000 by 2049, given its economic expansion and a stronger yuan.
(Source: Shanghai Daily)
　

Bengang to invest stainless steel sheet and strip project(2008/05/30)
Benxi Iron and Steel (Group) Company Ltd (Bengang) plans to invest more than 10.0 billion Yuan to construct a new stainless steel sheet and strip project, and then enters stainless steel market.
The capacity;
former planned capacity of 800,000 tons per year;
and former planned hot rolling capacity of 3.00 to 3.50 million tons per year, including 700,000 tons of hot rolling (2.5 to 5.0 mm*1000 to 1650 mm);
Stainless steel output of 700,000 to 800,000 tons per year (0.5 to 3.0 mm * 900 to 1650 mm).
The main products include 200 and 300 series austenitic stainless steel, and 400 series ferritic stainless steel.

Lingyuan Steel ratified to buy iron ore mine from parent group(2008/05/27)
The State-owned Assets Supervision and Administration Commission of Liaoning province has recently authorized Lingyuan Iron & Steel Group Co Ltd to transfer 40% of its shares in Beipiao Baoguo Iron Ore Corp to its listed arm Lingyuan Iron & Steel Co Ltd (Lingyuan Steel) through a private displacment and cash transfer.
The related assets assessment has also been approved by the authority at the same time. The transfer price is no less than the value evaluated by the SASAC of the province and China United Assets Appraisal Co Ltd, which is reported at about 2.02 billion yuan, with an appreciation rate of 340.26%.
Lingyuan Steel, with a target to secure a long-lasting and stable iron ore supply base, disclosed its adjusted private placement program on May 10, 2008 to non-publicly issue up to 193.9 million shares and not less than 64.63 million shares, with an issuing price at 8.51 yuan per share, thereby finacing no more than 1.5 billion yuan.

Production in Panzhihua Steel Chengdu Steel returns to normal(2008/05/27)
The May 12 earthquake once forced Panzhihua Steel Chengdu Steel to suspend operations that day due to the collapse of workshops and the quake-related damages on equipment. The company arranged a meeting on the following day discussing matters on resumption at iron making plant. On May 14, a 70t EAF and a 30t converter were on track of operations. 304 continuous rolling pipe plant and 508 cycle rolling pipe plant also kicked off trial production on the following day.
Its wire plant, rod plant, special pipe processing plant also joined the resumption move until a circular warning a possible aftershock measuring at 6-7 Richter scale at the epicenter of Wenchuan, Sichuan released on May 19-20. As a result, all the production lines in the company halted again.
However, Panzhihua Steel Chengdu Steel brought back into operations of No 2 sintering machine, No 1 blast furnace, all converters and EAFs and 340 and 508 pipelines from May 21, according to officials from the disaster relief headquarters who added they will always put safety production on top priority.

Chonggang takes responsibility of producing color steel for 800,000 square meters of earthquake proof prefab(2008/05/27)
On 22nd May, Chonggang received an order from governor of Chongqing, to secure the color steel supply of 800,000 square meters of earthquake proof prefab, and deliver these prefabs to Wenchuan, the disaster-hit region, by the end of June.
The prefabricated houses must be in accord the standards by Ministry of Housing and Urban-Rural Development of PRC. 800,000 square meters of prefabs will need colored steel 14,000 tons to 15,000 tons, “sandwich-panel” of 2.80 million square meters, which will a tough target for the company. Besides, the company has supply panels to other companies to manufacture prefabs.
But the company is committed to completed the target in shortest time and least costs, to support the earthquake relief.
　

Baosteel donated 67.00 million Yuan in cash and goods to Sichuan（2008/05/26）

Till yesterday, Baosteel had donated 31.25 million Yuan in cash to relief the earthquake disaster in Sichuan, and the donation in cash and goods amounted 67.00 million Yuan in total.

Angang has donated more than 20.10 million Yuan to relief the earthquake disaster in Sichuan（2008/05/26）

On 14th May, Angang donated 10 million Yuan for earthquake relief. After that, the company group holds a donation activity, which had received 9,628,757 from 156,635 employees by 17:00 of May 20th. And the Party members donated 477,800 Yuan till 10:00 of 21st. As a result, Angang has donated 20,107,557 Yuan till now.

Shagang logistic center passes initial evaluation（2008/05/23）

Shagang (Rugao) Steel Logistic Center at Rugao port passed initial evaluation on the afternoon of May 20, marking a pick-up in the construction of the project, which will be the largest iron and steel storage, information exchange, processing, package, distribution and matching energy conversion device center in eastern China, with an annual cargo shipment of over 70 million tons by railways and port.
The 29.2 billion yuan project is targeted for shipbuilding, auto, household appliance, transportation, equipment manufacturing and steel producers along the middle and lower reaches of the Yangtze River.

Magang has donated 15.00 million for earthquake relief（2008/05/23）

To support the rescue and reconstruction in earthquake-hit region in Sichuan, Magang donated another 1.70 million Yuan on 20th May, putting the total amount to 15.00 million Yuan. Besides, the donation by employees in Magang has accumulated to 6.00 million Yuan.

Taigang had another donation of 5.00 million Yuan to relief the disaster in Sichuan（2008/05/23）

With earthquake relief continues on, and the reconstruction of earthquake-hit region will begin in short time, Taiyuan Iron and Steel decided to donate another 5.00 million Yuan on 20th May. With a donation of 6.50 million Yuan on 14th May, Taigang has had a donation of 11.50 million in total till now.
As a large state owned company, taking social responsibility is the duty of the company, according to Taigang.

Jiugang invests 3.0 billion Yuan to develop Recycling Economy（2008/05/22）

According to the Plan for development of Recycling Economy in Jiugang issued recently, Jiugang will invest 3,029,240,000 Yuan in five years since 2008, and implement 45 projects, to construct an industry chain of recycling economy, through adopting no or less waste production processes and seeking optimum associations of production factors and resources.

Jinxi Steel donates premium H sections for quake-hit areas in Sichuan（2008/05/22）

The first batch of ten trains full of 600 tons of premium H sections in total donated by Jinxi Iron and Steel Co Ltd (Jinxi Steel) of Hebei was headed for the quake-stricken areas in Sichuan in the morning of May 19, as part of a package donation program by the company covering 1,000 tons of new-type, premium, anti-quake and environmentally friendly H sections worth of more than 6 million yuan for the reconstruction of a high-standard teaching building.
Jinxi Steel has a total asset of 8 billion yuan and is able to produce 5 million tons each of pig iron, steel and steel products per year. It ranked 2nd among 10 largest private steelmakers in Hebei and 168th among 500 largest manufacturers in China in 2006. Han Jingyuan, chairman of the company was honored the outstanding contribution award for Chinese charity cause presented by China Charity Federation in January 2007.

Shagang succeeded in trial production of steel for line pipes in Middle Asia Line（2008/05/21）

Recently, basing on the experiences of X70 steel, Hongchang steel plate plant of Shagang succeeded in trial production of X70 steel special for line pipes utilized in the construction of Middle Asia Line, part of the West-East natural gas transmission project, and made preparation for the batch production. It is said that this X70 steel for line pipes in Middle Asia Line has the highest strength and width among the existing products of Hongchang steel plate plant.

Masteel assists disaster relief work（2008/05/21）

Masteel has produced over 300 tons of special sheets with eight specifications within less than 12 hours after receiving the production order in response to an appeal from the National Development and Reform Commission asking Maanshan city to provide 200 hydraulic hammers for emergent reconstruction in the quake-hit regions of Sichuan. The badly needed sheets coupled with around 160 tons of existing stocks in Masteel are used to produce 100 hydraulic hammers as there are just altogether 100 units stored up at the city.
Besides, the company also set up a ten-person team to undertake transportation mission for all the 200 hydraulic hammers by using three vehicles. The team with the heavy machines was headed for Chengdu in the afternoon of May 17.

Zhanjiang to improve infrastructure for proposed steel porject（2008/05/20）

Zhanjiang government has pledged to improve infrastructure construction, move and relocation efforts and map out program for the ongoing Zhanjiang steel base project. The infrastructure construction covers over ten projects including water supply hub in Jianjiang, Shugang roads on Haida-Weilv section in East Inland, due to break ground by the end of 2008, and railway branches, scheduled to kick off in the first half of 2009.
Over 9,000 people in eight villages are involved in the relocation program, which is due to launch in large scale by the end of this year.

Jiugang’s carbon steel cold rolling project began installing equipments（2008/05/19）

On 12th May, Jiugang held a ceremony to celebrate the carbon steel cold rolling project launching equipment installation. Representatives from group company, Mitsubishi Corp, Mitsubishi Hitachi Corp and other concerned parties attended the ceremony.
Carbon steel cold rolling project is one of the key projects for Jiugang to implement the product mix upgrading. Adopting 1.50 million tons per year 5 stand pickling and continuous rolling machine designed by Mitsubishi Hitachi Corp of Japan, and two 750,000 tons per year hot dipped galvanizing machines designed by Nippon Steel Company, and affiliated post processing line and common supplementary facilities, the project is expected to be completed in 33 months. BERIS Engineering and Research Corporation will take responsibility of plant design.

Earthquake halts production of Lueyang Steel（2008/05/16）

As of late afternoon on May 12, the strong quake in Sichuan has completely cut off water and electricity supply in Lueyang county, disrupted Baoji-Chengdu railway on Luoyang section, leaving around 2,000 people stranded at local stations and halted production of Luoyang Steel as a whole.
The quake also caused tailing drainage from the breach of a tailing pool in Hejiayan county, operated by Huaao Company.

Shougang’s cold rolling sheet production line launched commercial operation（2008/05/15）

After two years’ construction, equipments installation and testing, Shougang’s cold rolling sheet production line, with an investment of 6.4 billion Yuan and a capacity of 1.50 million tons per year, launched commercial operation on 10th May. This is the first completed project of Shoufang’s relocation project and the only one project of high grade left in Beijing. Launching operation means the relocation of Shougang made great progress.
Sheet cold rolling line is the last step of iron and steel production, and the line is an important index of weighing the company, as the line usually has advanced technology and produces the highest grade products which has the widest markets. Therefore, the sheet line project was listed as one of the key project during the “11th Five-year”, and launching operation means the structure adjustment and industry upgrading of the company is moving on smoothly.
Shougang cold rolling sheet production line, located in Shunyi District, Beijing, has a design capacity of 1.50 million tons per year, including 800,000 tons of cold rolling annealed sheet coil and 700,000 of hot dipped galvanized sheet coil. The cold rolled sheet production is not able to meet the demand in China, as the production of such products began later, and the specification is not as full. Till 2010, the demand in China of cold rolled sheet is estimated at 84 million tons per year, with a shortage of more than 10 million tons. The products of the line are mainly high grade sheets used for auto and home appliance manufacturing and in construction industry. The 2,160 hot continuous rolling line and the supplementary systems in Shougang will support the line with feeds and help in product development.
While adopting the most advanced technologies and equipments, the sheet mill has installed pickling and rolling machines, continuous annealing machine, two continuous hot dipped galvanizing lines (one in auto sheet and one in sheets for home appliances), two re-rolling inspecting lines, two packing machines and a grinding mill. Besides, the company manages to lift the quality of products and decrease the energy consumption.
Meanwhile, another key project, Caofeidian Shougang Jingtang Iron and Steel Project is under way.

Strong quake strikes blow on Pangang’s production（2008/05/15）

A major quake measuring 7.8 on the Richter Scale in Wenchuan county, Sichuan Monday afternoon on May 12 has completely suspended the operations in Pangang Group Chengdu Iron and Steel Co Ltd and Pangang Group Sichuan Changcheng Special Co Ltd with reports on staff casualty and property damage in these two companies. Pangang Group has called on various subsidiaries, branches and organs to immediately initiate the emergency-response system and join in disaster relief efforts.

Sinosteel XTMMC ties up with Shougang（2008/05/14）

Sinosteel Xingtai Machinery & Mill Roll Co Ltd and Shougang Corporation have inked a strategic cooperation agreement to promote a deeper and broader cooperation and enhance competitiveness of both companies.
They have cooperated with each other for many years and broadened the scope of their collaboration in recent years. Shougang, as the 10th domestic modern mill to strike a strategic deal with Sinosteel XTMMC, has increased the output ratio of large sheet and strip among various steel products with the relocation project going on.

Tiantie realized sale income 12.18 billion Yuan during the first quarter（2008/05/14）

During the first three months, Tianjin Tiantie Group produced 1.21 million tons of steel, increasing by 32% from that of the same period in 2007; 1.14 million tons of iron, up 28%; 850,000 tons of finished steel products, up 51%. Meanwhile, the group realized sale income 12.18 billion Yuan, 5.6 billion Yuan more than that of the corresponding period in 2007; and had a production value of 7.33 billion Yuan, adding 2.03 billion Yuan.
In 2007, steel-melting plant of Tiantie managed to reduce the energy consumed during steel melting. The energy consumed per ton steel in Tiantie Group decreased by 100 Kg in 2007, and the energy consumed per 10,000 Yuan of production value downed to 1.4 tons of standard coal. During the first quarter of 2008, energy consumed per ton steel in decreased to 570 Kg, and that of 10,000 Yuan of production value downed to 2.21 tons of standard coal, especially that in March downed to 514 Kg, making new records.
Besides, Tiantie focuses on high grade projects construction, in order to maintain the position in high grade products markets. The cold rolling plate project will launch operation on 18th May, and the hot rolling plate project has launched production in Aug 2007, with the daily output having topped 10, 000 tons; the pre-iron system improving project, involving an investment of more than 4.0 billion Yuan, is expected to be completed by the end of this year.

Baosteel fills the blank of high strength plate production in China（2008/05/12）

Recently, Baosteel succeeded in trial production of 1,400 mpa ultra high strength plate, which represents the leading technology in the world. And the products are proved to meet the design standards, which means Baosteel fills the blank of high strength plate production in China, and becomes one the few companies that have such technology.
With a yield strength of more than 1,200 mpa and a tensile strength of more than 1,400 mpa, this ultra high strength plate is the highest grade plate with the highest strength, high toughness, good welding and forming performance, and can be used to make the key force bearing parts of engineering machines. Due the difficulties in component design and producing, the capability of producing 1,400 mpa plate is an important step to become a first level plate manufacturer in the world.
With a rapid development of manufacturing industry in China, the demand for welding structure steel with higher strength for engineering machines increased. Therefore, Baosteel began the development of 1,400 mpa ultra high strength plate in September 2007, and succeeded in trial production of 1,300 mpa plate at the end of 2007. Basing on this, the company finally succeeded in trial production of ultra high strength plate with a tensile strength of more than 1,400 mpa.

Angang-ThyssenKrupp to commission a new line（2008/05/09）

After more than one years of construction, the second phase of Angang New Rolling-ThyssenKrupp Galvanized Sheet, the largest overseas jv metallurgical plant of Germany’s ThyssenKrupp Steel, is due to commission in September this year, putting the total capacity of the two-phase project to 800,000 t/y and earning Angang more strength to expand in auto and home appliances markets at home and abroad.

Hangzhou Steel inks strategic agreement with Jiangdong Carbon（2008/05/08）

Hanzhou Steel and Nantong Jiangdong Carbon Co Ltd have signed a strategic agreemen on super high power graphite electrodes for EAF.
Based on Nantong city, Jiangsu province, Jiangdong Carbon has a business scope of super high power graphite electrode, special graphite products, carbon materials and entity investment. It ranks 1st in the production, sales and exports of super high power graphite electrode. The company is also one of few manufacturer nationwide capable of producing Φ600mm super high power graphite electrode on commercial basis.
Statistics showed domestic mills have long been relied on imported super high power graphite electrode for their EAF at a price of 10,000 yuan above homemade ones. However, after many years of trial use starting from 1999, Hangzhou Steel found Jiangdong’s products have approached or reached the international level in quality, which contributed to the cooperation between the two companies this time.

Million tons iron and million tons steel production base project broke ground in Chifeng（2008/05/08）

According to Chifeng City Government of Inner Mongolia Autonomous Region, the million-ton iron and million-ton steel production base project, with an investment of 2.0 billion Yuan in total, broke ground recently in Aohan QI.
The project is funded by Liaoning Wanhua Group, and designed by Angang Design Institute and constructed by the Third Metallurgical Construction of China Metallurgical Group Corp. The project has an investment of 2.0 billion Yuan in total, with 400 million for phase one, which will construct a cast capacity of 600,000 tons per year. When launch full scale production, phase one will have a production value of more than 2.0 billion Yuan per year, and revenue of nearly 100 million Yuan per year. Phase one is expected to launch operation in November.
Phase two will begin construction in 2009, and be completed in 2010. When phase two launch operation, the project will have an annual production of 1 million tons of iron and 1 million tons of steel, and a production value of more than 7.0 billion Yuan per year and revenue 300 million Yuan, adding 2,000 job positions.

Bagang had a good performance result for quarter one（2008/05/07）

During the first quarter of 2008, Bayi Iron and Steel Company boosted the capacity expansion project, and produced 1,103,700 tons of steel and 1,051,000 tons of finished steel products during the reporting period. Meanwhile, the company realized an operating income of 4.554 billion Yuan, and profit 275 million Yuan, making new records.

Guangzhou Iron and Steel realized net profit 22.01 million Yuan for the first quarter（2008/05/06）

During the first three months of 2008, Guangzhou Iron and Steel Company Ltd realized operating income 1.888 billion Yuan, increasing by 46.73% from that of the same period in 2007; and the operating costs totaled 1.868 billion Yuan, up 46.33%; the main causes were the rises in products sale prices and the production costs, up 41.18% and 39.34% respectively from those a year ago.
The company realized a net profit of 22.01 million Yuan for quarter one, increasing by 49.13% from that of the corresponding period in 2007, and the reasons include; first, the company managed to secure the raw material stocks when facing snow disaster, and therefore maintained full scale production; second, the costs management helped to reduce the production costs; third, the market for construction steel kept active through the first quarter, and the sale prices increased considerably. Meanwhile, the company had a clear picture of the prices trend for raw materials and increased the stock in the last quarter of 2007, and therefore had a relatively lower the raw materials cost for the reporting period.

Shigang has the largest high quality rod output in China（2008/05/05）

During the first quarter of 2008, Shijiazhuang Iron and Steel Company Ltd produced 484,000 tons of iron, 495,000 tons of steel, and 480,500 tons of finished steel, while realized sale income of 2.27 billion Yuan, increasing by 43.5% from that of the same period in 2007, and revenue 286 million Yuan, up 36.4%.
Entering 2008, Shigang has been kept on boosting the product mix improving and lifted the ratio of high value added products, and focusing on production and research of high grade steel of high profitability and with a sale price of more than 6,000 Yuan or even 10,000 Yuan.
During the first three months, the company had a ratio of high grade steel up to 99.05%, and the ratio of alloy steel to 57.42%, and the newly developed No.45, 40Cr, 20CrMn, 20G, 20CrMnTi steel won high appraises from the nation metallurgic industry, and also won contracts with customers in high grade market, like automakers as Toyota of Japan and machine manufacturers as Caterpillar of USA and so on. Shijiazhuang Iron and Steel has become the largest high grade rod producer in China.

Five iron and steel companies issued the fist quarter report（2008/05/04）

According to the report for the first quarter issued by Baosteel Company Ltd, the company had a net profit of 4.259 billion yuan during the first three months of 2008, increasing by 15.88% from that of the same period in 2007, and the profit per share came to 0.24 yuan.
At the same time, Baogang Company, Valin Tube and Wire, Pangang Vanadium Steel and Tanggang issued the reports for Q1 of 2008, among which, Baogang and Tanggang had a hike of more than 50% in revenue, while those for Valin Tube and Wire and Pangang Vanadium Steel declined.
According to Baosteel Company, though facing difficulties like hike in prices for main raw materials and fuels, tight supply of raw materials and electricity caused by heavy snows, Baosteel managed to realized a consolidated profit of 180 million yuan, 3.1% more from that of the same period in 2007, and 2.41 billion yuan, or 71.0% higher from last quarter. According to analysts, the hike in profit from last quarter may be due to the recovery in stainless steel sector, which lagged the performance of Baosteel in 2007. Since the profitability of stainless steel products recovered, the loss of stock value decreased, and therefore the loss in assets in first quarter decreased by 370 million yuan, according to Baosteel.
During the first three months of 2008, Baogang realized net profit 514,609,538.99 yuan, increasing by 159.89% from last year, and profit per share came to 0.08 yuan. Baogang attributed the increase in revenue to rising sale volume of steel products and sale prices, and the improved profitability.
Tanggang had a net profit of 729,827,579.37 yuan in Q1, up 57.05%, and diluted profit per share came to 0.32 yuan. The new projects that launch operation and the adjust in income tax helped to push up the revenue, according to the company.
Valin Tube and Wire had a loss of 263,494,897.98 yuan in Q1, down by 196.60%. And the reason for that was the heavy snows in early 2008. It is calculated that the company lost 900 million yuan during the snow disaster. Till the later half of Feb, Valin Tube and Wire got back to normal production, and maintained a good trend in March, with a steel output of 900,000 tons and steel sale volume of 926,000 tons, and profit 339 million yuan. But the performance in Q1 had a shock decline from that of the corresponding period in 2007 and turned into red.
Pangang Vanadium Steel had a net profit of 171,057,461.86 yuan for Q1, down by 11.69%, and profit per share came to 0.04 yuan, down by 33.33%.

Wisco ties up with Pingdingshan Coal（2008/04/30）

Wisco inked a 3.6 billion yuan cooperation agreement with Henan’s Pingdingshan Coal Group on April 26. Wisco will invest 2.1 billion yuan in Hubei’s Pinger Coal Port Co Ltd while Pingdingshan Coal spend 1.5 billion yuan on Wisco’s coal and chemical industry. Both sides will jointly build a 10 million t/y coal storage center.
Currently, international coke price is as much as 2,000 yuan per ton and domestic one surpasses 1,200 yuan per ton. After the operations of the center, Wisco could buy coke, a key raw material for the steel industry, at 200 yuan lower than market price. Pingdingshan Coal, the first self-developed super large coal base in China, has an annual crude coal capacity of over 40 million tons and offers 3 million tons of coking coal to Wisco every year, accounting for 1/3 of latter’s total consumption. The cooperation will make Wisco the second largest shareholder of the coal group.

Shigang realized revenue of 280 million Yuan during the first quarter（2008/04/29）

From Jan to March of 2008, Shijiazhuang Iron and Steel Company Ltd had good results of production and performance. The company produced 484,000 tons of iron, 495,000 tons of steel and 480,500 tons of finished steel in the first quarter of 2008; while realized sale income 2.27 billion Yuan, increasing by 43.5% from that of the same period in 2007; revenue 286 million Yuan, up 36.4%; profit 182 million Yuan, up 99.2% with the same comparison.
Since the beginning of 2008, Shigang had a hiking growth. Till March, the company had a ratio of high grade and high quality steel up to 99.05%, and a ratio of alloy steel to 57.42%. The newly developed No 45, 40Cr, 20CrMn, 20G, 20CrmMnTi steel by Shigang have won praise in the nation, and entered the high end market like auto-making and engineering machines manufacturing and so on (having won contracts of Toyota of Japan and Caterpillar of USA). The company becomes a special steel company with the largest production of high grade and high quality steel rod.
Meanwhile, Shigang improved the product mix for export, and adjusted the export policy, and as a result, increased the export volume. During the first three months, the company exported 78,000ton of steel, making a foreign exchange of 57.48 million US dollars, covering more than 20 countries and areas in Asia, Europe and Americas.

Xinxing Ductile Pipe inks consolidation frame deal（2008/04/29）

Xinxing Ductile Pipe inked M&A Operating Frame Contract with Hubei’s Xinyegang Co Ltd at Beijing on April 22, 2008, under which both companies will set up Huangshi Xinxing Pipe Co Ltd, which is 60% owned by Xinxing Ductile Pipe and 40% owned by Xinyegang.

Anshan eliminates 11 outdated firms in Q1（2008/04/28）

Reporters were told by Environmental Protection Bureau of Anshan city on April 23, the city eliminated 11 firms with outdated capacity, corrected 7 printing and dyeing firms for their illegally exceeding pollutant discharge and punished 12 for the abnormal operations of their environmental protection facilities in the first quarter of 2008.
The city dismissed 5 of the 40 construction items for the sake of heavy pollution in the quarter.

Angang Steel spends 1.2 billion to build Bayuquan project（2008/04/25）

Angang Steel announced a notice that it intends to take over a stake in Ansteel Group Finance Co Ltd for 362 million yuan while purchase some land using rights of Bayuquan project from Ansteel Group for 1.265 billion yuan.
Yingkou-based Bayuquan steel project, already approved by the National Development and Reform Commission, occupies an area of around 8.3 million square meters, among which Ansteel Group has got access to 3.594 million square meters.

Hanbao Company No 1 blast furnace launched operation（2008/04/24）

On 18th April, the 3,200-cube-meter No. 1 blast furnace in Hanbao Company of Hangang Group, which was constructed by CMCC, launched operation.
Hangang hold a ceremony for this. In the speech on the ceremony by Peng Zhaofeng, vice general manager of Hangang Group and general manager of Hanbao Company, said: “With all workers’ efforts, the No.1 blast furnace project renewed the records on constructions of such projects.”
Li Lianping, general manager of Hangang Group, said: “Launching operation of No.1 blast furnace means the construction of Hangang New Area enters new era, and I wish phase one of the project will be completed on time as schedule. ”

China Shipping and Baosteel set up jv shipping company（2008/04/24）

China Shipping Group strengthens cooperation with upstream and downstream enterprises in 2008. The group has set up a joint venture shipping company with Baosteel Group at Hong Kong in the wake of signing cooperation agreements with shipbuilding companies in Jiangsu and Guangzhou.
Having registered in Hong Kong, the new company, temporarily called “Haibao Shipping Co Ltd”, runs six 300,000-ton ore sand VLOCs with an annual shipping capacity of over 16 million tons. The company mainly serving Baosteel is 51% owned by the shipping group and 49% by Baosteel.
China Shipping Group president Li Shaode says it always inks 10-15 years’ contracts with large steel mills. Out of group’s 16 ore sand vessels under construction, five are ready for Wuhan Iron and Steel, four for Shougang and one for smaller mills.

Jigang realized a net profit of nearly 400 million Yuan in the first three months（2008/04/23）

According to the quarter report issued by Jinan Iron and Steel Company Ltd, during the first three months of 2008, Jigang realized operating income 10,228 million Yuan, increasing by 32.96% from that of the same period in 2007; net profit 393 million Yuan, up 32.54%; and profit per share came to 0.29 Yuan, up 10.43% with the same comparison.
The increases in revenues were mainly due to the improved conditions in steel market, and the higher prices for steel compared with those of the corresponding period in 2007. Meanwhile, due to that the costs for steel have increased, the operation costs for the period hiked by 34.79% from a year ago.

Tanggang had an operating profit of 53.68% higher in 2007（2008/04/22）

In 2007, Tanggang Company Ltd produced 9,353,900 tons of iron, increasing by 1.43% from that of 2006, and completing 95.25% of the year plan; 10,837,900 tons of steel, up 7.35%, and completing 100.07% of the plan; 10,409,900 tons of finished steel, up 18.77%, completing 100.87% of the year plan. In 2007, Tanggang realized sale income 41,792 million Yuan, up 38.45% from that of 2006; operation profit 3,051 million Yuan, up 53.68%; and net profit 2,426 million Yuan, up 72.13%.

Baotou Steel’s net profits up 161.75%（2008/04/22）

Baotou Iron and Steel (Group) Co Ltd (Baotou Steel) achieved net profits of 1.75 billion yuan, up 161.75% and earnings per share of 0.36 yuan, up 80%, according to the 2007 results report released today. The group produced 4.679 million tons of pig iron, 5.857 million tons of crude steel, 6.876 million tons of merchant billet, exported 773,700 tons of steel products, achieved sales revenue of 26.773 billion yuan and net profits of 1.746 billion yuan.
The group contributed the increased net profits to the hike of sales and a higher gross profit margin resulting from rising sales price. Baogang Group also took over 7.417 billion yuan worth of steel assets in Baotou Steel through a direct displacement of 3.032 billion yuan A shares in 2007.
In 2008, the group will try to produce 10 million tons of steel, 9.5-9.65 million tons of pig iron and 9.80-10 million tons of crude steel, 9.26 million tons of billet, achieve sales revenue of 43.002 billion yuan and profits of 2.32 billion yuan.

Ansteel to produce over 18 million tons of steel in 2008（2008/04/21）

Ansteel’s director Fu Jihui says the company initially plans to produce over 18 million tons of steel and 17 million tons of steel products in 2008. It purchased iron ore at 790 yuan per ton in the first quarter and coking coal at 880 yuan per ton with a further rise of 100-200 yuan per ton for the latter in the second quarter.
He notes the 22.6 billion yuan Bayuquan project will start operations in the later half of 2008 with an annual capacity of 5 million tons. Ansteel sold its products at 4,689 yuan per ton in the first quarter, up 11% and was expected to grow 10% in the second quarter.
It purchases 75% of iron ore necessary from its parent company and remaining 25% from overseas, most of them are bought under long-term contracts. The company will reduce exports from 2008 as gross profit margin from exports could be 3 percentage points lower than that from domestic sales, he says.

Wugang will become the second largest shareholder of Pingdingshan Coal（2008/04/21）

According to Wugang Group, the company will sign a cooperation agreement with Henan Pingdingshan Coal Company Ltd during the Expo Central China 2008 (26th to 28th April in Hunan), which has a value of 3.6 billion Yuan, and then become the second largest shareholder of Pingdingshan Coal, strengthening the supply relation of coke to Wugang.
The detail of the agreement is not settled till now, but Wugang will take more than half of the investment, because the coke supply is tight and Wugang needs to secure the supply. Pingdingshan Coal is the largest coal company in Henan Province, which supplies 3.00 million tons of coke to Wugang annually, taking one third of Wugang ‘s coke requirement. Both company will set up a 10 million tons coal repertory center, to secure long term and steady supply of coke to Wugang.
The price for coke in international market keeps rise, now to 2,000 Yuan per ton, and the price in domestic comes to 1,200 Yuan per ton. But the coke supply to Wugang will cost 1,000 Yuan per ton or so, when the center completed, by which the company will save costs by 600 million yuan.
Both companies will deepen their cooperation, according to market sources, with the coke supply is one filed, the agreement will include coal and steel supply to each other. According to Wugang, the cooperation with Pingdingshan Coal has a long history. At the end of 2004. Wugang spent 600 million Yuan, and became the third largest shareholder of Pingdingshan Coal. With this agreement, Wugang will become the second largest shareholder of Pingdingshan Coal.

Shagang inks long-term COAs with Greek AGLEF（2008/04/18）

Shagang Group International Trade Company signed long-term COAs with AGLEF Shipping Company of AGLEF Group, Greece on April 9. In 2007, Shagang’s demand on imported high-grade iron ore rose to nearly 19 million tons from over 16 million tons in 2006.
AGLEF Shipping, the third firm striking such deals with Shagang following Glorywealth of Singapore and STX of South Korea, runs more than 50 dry bulk cargo vessels and oil tankers. This time, it signed a ten-year COA undertaking by an ore carrier and a five-year COA by a newly-built one.

Wisco issues first social responsibility report among steel industry（2008/04/18）

Wisco published 2007 social responsibility report on April 14, the first case in the steel industry.
The report contained three chapters including strategy and management, social responsibility and resources and environment. Since 2001, the group has accumulatively donated 153.87 million yuan. In 2007, eight CDM projects got approval by the National Development and Reform Commission including key environmental protection items during Wisco’s 11th five-year plan such as CDQ, CCPP and TRT, which could reduce CO2 emission by over 3 million tons.

Tonggang Group profit reach s 979 million during the first quarter（2008/04/18）

During the first quarter of 2008, targeting at constructing a high grade 10 million tons steel base, Tonggang Group improved the management level and profitability, and secured the project construction moving on smoothly. Meanwhile, the group realized revenues 979 million Yuan, increasing by 432 million Yuan from those of the same period in 2007; and a profit of 230 million Yuan more with the same comparison.
Taking the advantage of market recovery when weather comes warmer, the group made suitable sale plans. From Jan to March in 2008, the group produced 635.8 million tons of strategic steel products, accounting 38.1% of the whole.
While focusing on projects like high grade iron and steel base, the large scale modernizing and captive mine development, the group continued to strengthen the management of new projects that launched operation, to secure a smooth production and steady rising incomes.

Angang realized a 2% higher net profit in the first quarter（2008/04/17）

According to the announcement on 14th April by Angang Steel Co., from Jan to March, the company had a net profit 2% higher, which is due to the higher prices for steel caused by higher demand. Till 31st March, Angang realized net profit 2.443 billion Yuan (349 million US dollars), up from 2.394 billion Yuan in the same period in 2007; with the revenue of the first quarter came to 18.59 billion Yuan, 17% higher from that (15.85 billion Yuan) of a year ago.

Yigang’s 1 million tons coal coking project broke ground in Nileke（2008/04/16）

Recently, Yigang’s 1.00 million tons coal coking project, which has an investment of 1.2 billion Yuan in total, broke ground in Bubulakegou Coal Coking Base in Nikele County in Yili. The base is located at a basin among mountains, 3 km south the joint of S315 and S316 rail lines. The base has an area of more than 6,000 Mu, and now completed an investment of 25.00 million Yuan, with the roads, electricity supply ready, the groundwork of the major coke oven completed. The first coke oven will be completed in Oct 2008, and may launch production by the end of the year. Till then, the base will have a production value of 5.0 billion Yuan, industry added value 3.0 billion Yuan, and profits 1.5 billion Yuan in a year, and will be the most important coal coking base in Yili, and even in Xinjiang in the future.

Liugang realized net profit 999 million Yuan in 2007（2008/04/15）

As the leader of industry in Guangxi Zhuang Autonomous Region, Liuzhou Iron and Steel (Group) Company issued the annual report for 2007 on 4th April. According to the report, Liugang produced crude steel 5.8035 million tons in 2007, and finished steel 3.8645 million tons, while realized operating income 2.07 billion Yuan, increasing 26.91% from that of 2006, and net profit 999 million Yuan, up 31.82%.
In 2008, Liugang plans to produce 7.60 million tons of iron, 8.16 million tons of steel and realize operating income 28.2 billion Yuan and net profit 1.077 billion Yuan.

Ansteel expected to make 50 million tons of steel by 2010（2008/04/15）

Zhang Wanqin, head of export department of Ansteel Group’s International Trade branch pointed out at the 3rd International Steel Market Forum that the group’s steel capacity will expand largely through consolidation activities with Benxi Iron and Steel and others.
The group has to resort to other ways to achieve the target of 50 million t/y, given Benxi Steel’s current 10 million tons capacity, Zhang said but declined to give more details.
Ansteel’s both pig iron and crude steel output surpassed 16 million tons in 2007 and the group is expected to produce up to 19 million tons of crude steel this year. He added having completed the consolidation, 10-15% output will be exported and of total exports, 80% will be bound for end-users and 20% for traders and distributors.

Baosteel trial produces new steel for construction for 2010 World Exposition Shanghai（2008/04/14）

Recently, Baosteel succeeded in trial production of BLY160 type steel for construction, which has an ultra low yield point, and the steel is to be applied in the construction of buildings for 2010 World Exposition Shanghai. The performance of the products has met the target, and the product fills the blank of steel for metallic dampers to seismic strengthening of buildings in China. Compared with traditional steel for construction, BLY160 steel can lift the rigidity and the ability of bearing of the building. And due to the good performance on seismic strengthening, about 250 building in Japan have used this steel, but the steel in domestic market was totally dependent on imports.
To supply this steel to the first permanent building of the World Exposition, World Exposition Center, Baosteel began the development of construction steel for seismic strengthening with ultra low yield point two years ago, and succeeded in trial production of BLY160 steel in a short time, breaking the monopoly of imports, and strengthening the position in high quality structure steel for construction market.

Tangshan Steel eliminates all ordinary wire rod lines（2008/04/14）

Tangshan Steel halted operation of the last ordinary wire rod mill at its No 2 rolling plant on April 3, another move to step up efforts to eliminate backward and enhance products’ quality and grade in recent years.
The wire rod line was believed to have worked for 50 years with an accumulative ordinary carbon steel bar output of 7.49 million tons including 490,000 tons in 2007.
The line was phased out because of its outdated process that could no longer meet the requirement from the group whose sheet and strip ratio has accounted for nearly half of its total output and cold rolled sheet has been exported to Europe and Asia markets.

Tonggang Jilin’s 1450 steel rolling project broke ground（2008/04/11）

On 1st April, Jilin Iron and Steel Company Ltd of Tonggang Group began the construction of 1,450 mm steel rolling project. The project will construct a 1,450 mm continuous strip hot rolling unit, with a hot rolled steel coil capacity of 3.00 million tons per year. The project is scheduled to be completed in 13 months by MCC Jingtang Construction Corporation, with an investment of 350 million Yuan

Tanggang made new month production records in March（2008/04/11）

In March, taking the opportunity of temperature rising, Tanggang Company Ltd managed to maintain the operation and production at a smooth and high level. Following Jan and Feb, the output in March made new records, with iron output reaching 1.3486 million tons, steel output to 1.4095 million tons, finished steel output to 1.1810 million tons, increasing by 29.08%, 25.33% and 11.33% respectively from those of the same period in 2007, all making new records.
From Jan to March, the company produced 3.6792 million tons of iron, 3.8194 million tons of steel, and 3.2435 million tons of finished steel, up by 22.81%, 17.60% and 7.68% respectively from a year ago, making new quarter records.

Pangang’s overall listing approved in principle（2008/04/10）

The State-owned Assets Supervision and Administration Commission of the State Council has agreed Pangang Group’s listing program in principle and related auditing procedures have drawn to close. The proposal will be officially submitted to the China Securities Regulatory Commission after being further specified by Pangang Steel & Vanadium at its second Board of Directors perhaps held after April 8 but before the end of April.
The distinction of Pangang’s case from many other domestic large steelmakers is: It includes not only inflow capitals through direct placement, but also the issue of merges and acquisitions among three listed subsidiaries.
According to a plan made last November, Pangang S&V was due to buy 7.5 billion yuan worth of assets in Pangang Group through direct placement at an issuing price of 9.59 yuan per share and to consolidate Panyu Titanium and *ST Changgang via shares swap at one share of *ST Changgang and Panyu Titanium each for 0.82 share and 1.78 shares of Pangang S&V respectively, plus cash options.
But the situation changed on April 3, 2008 when Panyu Titanium and Pangang S&V announced their annual results in 2007, according to which the former’s net profits declined by 37.7% year-on-year due to soaring raw material prices while the latter’s up 3.6% with its share price topping 10 yuan per share.
Accordingly, the original listing plan has to be revised for the shareholders’ acceptance.

Bayi Steel’s Q1 output tops 1.1 million tons（2008/04/10）

Bayi Steel produced 1.1037 million tons of steel in the first quarter of 2008, up 19.84% year-on-year and 1.0451 million tons of steel products, up 17.2% with a medium plate ratio up 10 percentage points. This was the result of the introduction of advanced management concept and process technologies from Baosteel.

Tanggang demolished the last common wire production line（2008/04/07）

Recently, three rolling lines in No.2 mill of Tanggang Company stopped production recently. Till then, the last common wire production line in Tanggang had been demolished, which means Tanggang’s outdated capacities washing out and products quality improving and sustainable development policy making great progresses.
The lines had a history of nearly 50 years, and were of double stand rolling machines, mainly producing 8 to 10 mm common carbon wire rod. Tanggang had implemented technological improving on the lines, and lifted the capacity and product quality. In 2007, the line had an output of 490,000 tons of wires, and the accumulative output during the 49 years totaled 7.49 million tons, bringing a large volume of income to the company. But, these facilities are demolished, as they are too old.

Jiugang Hongxing had a net profit of more than 60% higher in 2007（2008/04/03）

According to the annual report for 2007 by Gansu Jiu Steel Group (Jiugang) Hongxing Iron and Steel Company Ltd, in 2007, the company had an operating income of 22.319 billion Yuan, increasing by 58.47% from that of 2006; net profit of 798 million Yuan, up 63.95%; and profit per share came to 0.88 Yuan. The company intends to pay an dividend of 20 Yuan per ten shares (taxes included).
The company attributes the hike in operation income to the increases in steel output and sale volume, and that in net profit to expand in capacity and recovery in steel prices.
The company plans to produce 5.60 million tons of iron, 5.90 million tons of steel, and 3.60 million tons of finished steel in 2008, and realize operation income of 20.0 billion Yuan, with the estimated costs of 19.2 billion Yuan.

Shaogang invests another 400 million Yuan to replace outdated capacities（2008/04/02）

How the iron and steel industry to upgrade and wash out the outdated capacities has always attracted attentions. Recently, No 6 sintering machine in Shaogang Group in Guangdong Province launched operation, and it is said that the new 360-m2 machine is constructed on the basis of the demolished No 1 to No 3 three small sintering machines, which has an investment of 396 million Yuan and an annual sinter output of 3.70 million tons.
According to Shaogang, the sinter project is the most important part of the “11th Five-year” plan. With its launching operation, Shaogang has made great progress on equipment modernization, and improving the structure of charge before iron, and decreasing the costs for iron melting. The new technologies adopted in the new equipment, including preheating by remaining heat and air conveying of dusts and so on, are among the highest level in domestic.

Jiuquan Steel sets target to make 8 million tons of steel in 2008（2008/04/02）