As announced by Chinese steel giant Baosteel on April 13, Baosteel chairman Xu Lejiang lately visited Liuzhou in Guangxi Province, where he signed strategic cooperation agreements with three local auto enterprises, namely, SAIC-GM-Wuling Automobile Co., Ltd, Liuzhou Wuling Automobile Co., Ltd and Dongfeng Liuzhou Automobile Co., Ltd.
According to the agreements, Baosteel will organize development teams to work with the three enterprises with the aim of promoting the utilization of new materials and new technologies. In addition, the application of Baosteel's special steel, stainless steel and die steel will be promoted within the three enterprises in question.
Baosteel is the leader in China's auto steel market, with an output of 3.32 million mt of cold rolled auto sheet in 2009, accounting for 50.1 percent of the domestic market.