On January 26, Liaoning Province-based Chinese steelmaker Angang inked an agreement with South Korea's Stollberg & Samil for the development of high-grade continuous casting powder, for which the market prospects appear very favorable.
According to the agreement, both parties will establish a 50-50 joint venture for the development and construction of the continuous casting powder project. Due to be built on a site covering an area of 20,000 m2, the project is planned to reach an annual output of 20,000 mt of high-grade continuous casting powder. Construction is scheduled to start in March this year and will be finished in the coming month of September.