Jiangsu Province-based Chinese stainless steel producer Xinyate Stainless Steel Foundry Co., Ltd has announced that its new melt shop for the production of nickel alloy semi-finished stainless steel is expected to come on stream in June this year.
The melt shop is designed to produce 2,000 mt per year. Xinyate Stainless Steel Foundry Co., Ltd said it is now targeting an overall annual sales income of RMB1 billion ($153 million).