Chinese Baosteel increasing its auto sheet sales in 2003
Market sources report that Chinese steelmaker Baosteel, currently holding discussion with major Japanese steelmaker Nippon Steel over a joint venture for steel sheet production for automotive industry, stated that in order to meet China's rising demand for automobiles the company aims to increase autosheet sales in 2003 up by 5.7% to 1.3 million ton. Chinese steel producer Baosteel's auto sheet sales in 2002 was 1.23 million ton.