SHANGHAI, Jul 5 (SMM) – Baosteel Zhanjiang Iron & Steel in Guangdong province obtained rights for new iron capacity of 4.03 million mt and steel capacity of 3.61 million mt, which could support the company's construction of its third 5,050 cubic metre blast furnace, according to a statement on Baowu’s website on Tuesday July 3.
This is part of the steelmaker’s move of 4.11 million mt of iron capacity and 4.55 million of steel capacity from Shanghai Meishan Iron & Steel in Jiangsu province and Baosteel Stainless Steel in Shanghai. The remaining steel capacity would go to Echeng Iron & Steel at Hubei province and Baosteel Desheng Stainless Steel in Fujian province.
Earlier this year, board chairman at Baowu Steel Group, Dai Zhihao, said that Zhangjiang Steel would begin preparations for its third blast furnace in 2018.
Zhangjiang Steel’s designed annual capacity includes 8.23 million mt of pig iron capacity, 8.93 million mt of crude steel capacity, 8.75 million mt of continuous casting billet capacity and 8.2 million mt of steel product capacity.