Chinese ferrochromium alloy and iron pellet producer Beicang Iron & Steel Incorporation Limited (BEIC) has announced that the company will make further ferrochromium alloy
investments to meet the requirement of
China's largest
stainless steelmaker Taiyuan Iron & Steel Company (TISCO), which plans to increase its capacity to three million tons from the current one million tons within two years.
TISCO produced 6.26 million mt of steel in 2006, with
stainless steel accounting for one million mt. This figure was enough to make TISCO
China's largest and the world's eighth largest
stainless steelmaker. To realize such a high
production level, TISCO consumes around 400,000 mt of ferrochromium per annum, and the requirement of the company is expected to exceed 600,000 mt per annum after the increase in its
production capacity.
BEIC currently produces 40,000 mt of ferrochromium alloy per annum. The company intends to enlarge its
production capacity further, acccording to its CEO Mr. Hou Beicang, in order to meet TISCO's increasing demand. BEIC also produces 400,000 mt of iron pellets every year.