Baosteel stock accumulates experience to seek more development space Baowu aluminum production capacity has reached 100000 tons

Today, Baosteel shares in the investor interactive platform to answer investors whether the company has aluminum alloy products in the automotive industry, said that iron and steel as a functional material, there is a lot of room for improvement. Compared with other materials, steel has the advantages of good weldability, strong cost competitiveness and high safety. in the future, automotive materials will still be dominated by steel, supplemented by magnesium and aluminum alloy, thus forming a state of composite materials.

In addition, Baosteel said that it is currently entrusted with the management of Baowu Aluminum, hoping to further accumulate relevant experience and capabilities in order to seek future development space and better serve users.

Baowu Aluminum, a holding subsidiary of Baowu, China, is a science and technology enterprise engaged in research and development of aluminum materials, intensive processing and production of high value-added aluminum sheet products set up by Baowu, Henan Energy and Sanmenxia City based on a common development strategy. It was put into production in December 2020. The first phase of the project has a total investment of nearly 7 billion yuan and an annual production line of 300000 tons of aluminum alloy. It mainly includes four main workshops and auxiliary facilities: melting and casting workshop, medium and heavy plate workshop, cold rolling workshop and finishing workshop. The design capacity is 80, 000 tons / year for aluminum alloy automobile plate, 50, 000 tons / year for aluminum alloy medium and thick plate, and 170000 tons / year for aluminum alloy plate and strip.

At present, Baowu Aluminum has a production capacity of 100000 tons and is expected to reach a full capacity of 300000 tons in 2023.