Nantong, Jiangsu Province-based Chinese steelmaker Yongjin Metal Technology Co., a subsidiary of Zhejiang Yongjin Metal Technology Co., has announced that it has achieved adaily output capacity of 300 mt of stainless steel precision strip since official production commenced in September this year at phase one of its new stainless steel precision strip production project. According to company officials, the daily output capacity of the phase one project will reach 500 mt by the beginning of December this year after the installation of a polishing machine and coil separating lines supplied from abroad.
The total investment in the overall project is expected to reach RMB 3 billion ($482 million). Construction has already begun on the second phase, which is expected to be put into production in June next year. Yongjin Metal Technology anticipates an annual production capacity of 300,000 mt of stainless steel precision strip after the second phase officially begins production.