Shanxi Province-based Chinese steelmaker Taigang Group has signed a strategic cooperation agreement with Chinese steel giant Baowu Group and Shandong-based Shandong Xinhai Technology Co., Ltd, which is active in nickel alloy production sales and related technical development business, as announced by Shanxi-based Taigang Stainless Steel Co., Ltd.
Accordingly, the three parties will promote cooperation in raw materials and manufacturing of stainless steel, to realize mutual complementarity and win-win cooperation
Taigang Group has a total steelmaking capacity of about 12 million mt, of which 4.5 million mt is stainless steel. The company is the world's biggest stainless steel exporter, while about 85 percent of its steel output consists of high-end products.