Baowu Steel, Shanxi Taigang Stainless Steel and Shandong Xinhai partner for strategic collaboration

SHANGHAI, Nov 4 (SMM) – Top Chinese steelmaker China Baowu Steel Group has signed a strategic framework agreement with Shanxi Taigang Stainless Steel and Shandong Xinhai Technology in Jinan on Sunday November 3.

The collaboration is a key milestone in China’s stainless steel industry, which is embracing the integration of NPI and stainless steel.

Shanxi Taigang Stainless Steel specialises in the production and marketing of stainless steel carbon steel, and has an annual stainless steel capacity of 4.5 million mt, with 300- and 400-series taking the majority.

Shandong Xinhai Technology has 2.09 million mt of high-grade nickel pig iron capacity on an annualised basis, making it the largest NPI producer in China.

Baosteel Desheng, the stainless steel unit of Baowu Group, expanded its capacity to 2 million mt in 2019, and 200- and 300-series are its major products.