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Home / Metal News / Newssummary: China Top Steelmaker to Venture into Automotive Aluminum Alloy Segment

Newssummary: China Top Steelmaker to Venture into Automotive Aluminum Alloy Segment

May 4, 2015 09:45

Source:SMM

Baosteel Co. attended the recent Shanghai auto show and will soon release information concerning its foray into aluminum and magnesium alloy business, a source at Baosteel said.

SHANGHAI, May 4 (SMM) – Baosteel Co. attended the recent Shanghai auto show and will soon release information concerning its foray into aluminum and magnesium alloy business, a source at Baosteel said.

Baosteel’s automotive sheet sales soared from less than 1 million tonnes in 2011 to 7.25 million tonnes in 2014, claiming 50% market share.

Such high market share will give Baoteel an overwhelmingly competitive edge in its bold venture into automotive aluminum sheet segment.

Its decision to set foot into automotive aluminum sheet business is in response to increasingly fierce competition in ultra-high- strength steel market.

The article is edited by SMM and is provided for information purpose only. SMM assumes no liability and does not warrant the accuracy, reliability or completeness of information contained or quoted in the article, either express or implied. SMM further disclaims any liability for losses in connection with the information contained or quoted in the article.

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Baosteel Co.

China aluminum alloy capacity

Chinese news summary

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