Baosteel's steel exports hit a record high at 6.07 million tons last year, but the company did not specify its 2025 target. Domestic steel consumption in 2025 will fall by 2%, Zou added.

China's biggest listed steelmaker, Baoshan Iron & Steel Co , said a nationwide output cut was likely this year and flagged external pressures on an industry that is already grappling with ...

Net income for the first six months was little changed versus a year earlier at 4.6 billion yuan ($639 million), the Chinese company known as Baosteel said in a filing on Tuesday. Revenues fell 3. ...

Kobe will have a 50% stake in the venture and Baosteel and Baowu the remaining 50%, the statement on Kobe’s website said, without specifying the breakdown. The deal will be contingent on ...

Home Industry China’s Baosteel doubles investment in Aramco, PIF steel venture to $1bn The steel manufacturing facility has an annual production capacity of 2.5 million tonnes of direct reduced ...

Baosteel had originally agreed to pump $437.5 million into the venture before announcing Thursday it would increase that figure to $1 billion. Saudi Arabia is deepening its economic ties with China as ...

China’s Baosteel said Tuesday that it will acquire Nippon Steel’s 50% stake in their auto steel joint venture for about $242 million. The contract for the joint venture, Baosteel Nippon Steel ...

In 2023, Baosteel achieved a sales volume of 27.92 million tons within this portfolio, up 10 percent year-on-year. Sales of cold-rolled automotive sheets surpassed 9 million tons, setting a record.

Baosteel's growths in international market this year have also fueled its performances, with export order volume exceeding 1.5 million metric tons in the first quarter of 2024.

Under the agreement, Baosteel will purchase up to 1.5 million WMT of nickel ore for 2024 at a price that is determined monthly based on the prevailing market price at the time of sale.

Baosteel's decision to invest $1.5 billion in acquiring a substantial equity stake in Shandong Steel Rizhao Co. reflects the company's strategic vision and ambition for market expansion.