Baoshan Iron & Steel Co., Ltd., China's largest steel producer, today signed a joint-venture contract for the 1,800 mm cold rolling project in Shanghai with two major steel giants of the world, Nippon Steel Corporation and Arcelor. This marks the official establishment of the world's best auto sheet production plant for joint ventures.
According to reports, the 1 800 mm cold rolled steel is a steel grade that is specially produced for high grade automobiles. With the growing auto market in China, the demand for auto steels, especially high-grade automotive panels, by major automotive manufacturers continues to grow. However, due to technical and production constraints, China still has about 50% of automotive steel plates. Need to import. The establishment of the project will enable Baosteel to become the "leading" in the production of automotive panels in China.
Nippon Steel and Arcelor, as the giants of world steel production, have advanced production technologies and extensive customer groups that have become a good basis for cooperation with Baosteel. The two companies set up factories in China to provide customers with overseas investment in China with first-class steel products, greatly reducing transportation costs and making them in an advantageous position in the fierce competition in the steel market.