Baosteel, CSN plan joint venture in Brazil

SteelOrbis Shanghai A Baosteel supervisor disclosed that Chinese Baosteel was currently in talks with the Brazilian Companhia Siderurgica Nacional (CSN) to construct a 6 million mt per annum capacity steel mill in Brazil. Two years ago, Baosteel had announced that it would cooperate with Companhia Vale do Rio Doce (CVRD) to set up a joint venture, but it failed due to various hindrances. Therefore, Baosteel has now begun talks to establish a joint venture with CSN, and wishes to hold 50 percent share in this joint venture.