The rolled steel expansion project of Beijing-based Chinese steelmaker Shougang Shuicheng Iron and Steel Co. was officially completed on September 4, according to local newspaper Shougang Daily.
RMB 1.07 billion (about $167 million) was invested in the expansion project which increases the steelmaker's annual finished steel output to 5 million mt from 3 million mt. The newly-added capacity includes 1 million mt of steel bars and 500,000 mt of high speed wire rod.