Baoshan constructs specialty steel line

Baoshan constructs specialty steel line

China's Baoshan Iron & Steel Company (Baoshan) launched a project in Shanghai that will allow the company to better meet rising domestic demand. The main thrust of Baoshan's project is a RMB 580 million ($71.6 million) specialty steel production line. It will have an annual capacity of 100'000 metric tons of alloy steel production and should come on stream in early 2007. The new line will help Baoshan meet the rising demand from the automotive and household appliances industries for steel sheets and plates. As part of its project, Baoshan also will reportedly shut down its low quality steel rolling and casting lines as soon as the new line in Shanghai becomes fully operational.