Hunan Province-based Chinese steelmaker Hunan Valin Iron & Steel Co. (Hunan Valin Steel) has announced that its subsidiary Valin Xiangtan Iron and Steel will build a new high-speed wire rod rolling production line, with a designed annual production output of 600,000 mt, adopting international advanced production technology.
The project has an overall investment of RMB 700 million ($99 million), while construction work starts in the current month and is expected to be completed in September 2023.