Chinese steelmaker Xuangang, Hebei Iron and Steel Group has announced that it has signed an agreement with Beijing Science and Technology University for research into the development of high quality steel for automobiles. The producer stated that it is focusing on researching and producing high value-added steel production to improve economic returns and the competitiveness of its products in the current difficult market situation. To date, Xuangang has developed a total of 43 types in 10 different series of special steel products.
Due to the rapid development of the domestic auto industry, in 2010 Xuangang says it will be placing particular focus on the development of special steels for automobiles, including bearing steel, shaft steel, gear steel, spring steel, steel fasteners, tire cord steel, among others.