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Bearing steel of Chinese BaoSteel enters Wafangdian Market

Recently under the collaboration of Tube, Bar and Pipeline Business Unit and Baosteel International, Baosteel large size continuous casting bearing steel products successfully enter the Wafangdian market.

Wafangdian is the birthplace of China''s bearing industry. This region has a large number of bearing manufacturers, accounting for 25% of domestic market share.

In May this year, Baosteel Shenyang accompanies Tube, Bar and Pipeline Business Unit to complete the products'' certification in Wafangdian Bearing Group Co Ltd and Dalian Metallurgical Bearing Co and begin to supply the two companies since August. For three consecutive months the supply has exceeded one thousand tons and product quality is approved by users.

This specification success in the Wafangdian market makes up for Special Steel Business Unit shortage of bearing steel big-size rolled products and forms complement with Special Steel Business Unit bearing steel products and lay a solid basis for the development of Wafangdian market.

Nippon Steel acquires stake in Al Ghurair unit
Japanese steelmaker Nippon Steel Corporation (NSC) has acquired a stake in Al Ghurair Iron and Steel (AGIS), a subsidiary of the Al Ghurair Group.

The move will help AGIS expand its galvanising capacity, a statement said.

"The agreement brings the strengths of NSC and AGIS, by leveraging NSC''s technical strengths and global network and AGIS''s local industry and market expertise to deliver high quality galvanised steel in a very cost effective and efficient manner to customers in the region," a joint statement said.

NSC has signed an agreement for equity investment in AGIS through a share transfer in which NSC will secure 20 per cent of voting rights in AGIS.

Date£º2012-3-27 Visited Times:14651