Construction work has officially begun on a high-end stainless steel and special alloy steel bar production line for Zhejiang Province-based Chinese steelmaker Yongxing Special Stainless Steel Co. (Yongxing Special Steel), as announced by China Metallurgical Group Corporation (MCC). The construction work is being carried out by MCC subsidiary China Third Metallurgical Group Co., Ltd.
The production line in question will be built with a total investment of RMB 800.54 million ($122.22 million) and will have an annual output capacity of 250,000 mt of high-end stainless steel and special alloy steel bar after completion. In particular, it will be able to produce 136,000 mt of stainless wire rod, 30,000 mt of stainless coils and 84,000 mt of stainless bar annually.