Baosteel maintains 50% automotive sheet market share

SteelOrbis Shanghai On November 18, Baoshan Iron & Steel Group (Baosteel) announced that its cumulative automotive sheet production (in the years since the company first commenced auto-steel production) has broken through the 15 million mt mark. According to Baosteel's estimation, its automotive sheet production will reach 2.5 million mt this year, continuing to maintain a 50 percent market share in the domestic cold rolled automotive sheet market. Ai Baojun, president of the Baosteel Group, indicated that the company will further expand its production of automotive sheet in the future. Baosteel's targets are, firstly, to further increase production capacity and try to break its annual production record of five million mt by the end of 2010; secondly, to further strengthen exploration regarding new products, especially with respect to high grade and high value-added steel products; thirdly, to achieve an advanced supply cycle and quick response to demand by making use of local advantages; fourthly, to continue to enlarge the company's international collaboration so as to boost automotive sheet technology through strategic cooperation, as well as through joint investment and research and development; fifthly, to push forward the company's premium product strategy and to boost technical progress. So far, the number of Baosteel automotive sheet grades has increased from less than 10 to more than 200, including hot rolled sheet, pickled sheet, cold rolled sheet, hot-dip galvanized sheet, and electro-galvanized sheet and so on. Baosteel's automotive sheet is used in large quantities by almost all automobile manufacturers in China. With product quality reaching world standard, Baosteel has now successfully joined the ranks of suppliers of steel to the international automotive market.