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.
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