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Steel firms battered by prices and the market

Business | Metallurgical industry
2009-1-24

MORE Chinese steel companies are warning of losses or sharp declines in earnings for last year as prices tumble amid slowing demand. Guangzhou Iron & Steel Co, controlled by Shanghai-based Baosteel Group Corp,...

Vale and Baosteel cancel plant plans

Business | Metallurgical industry
2009-1-19

CIA Vale do Rio Doce and China's Baosteel Group Corp canceled plans to build a Brazilian steel-slab plant after a global economic slowdown reduced demand for metals and environmental rules blocked use of mill sites. ...

Baosteel hit by drop in demand

Business | Metallurgical industry
2009-1-15

BAOSTEEL Group Corp saw profit drop by nearly a third last year with higher iron ore costs and shrinking demand in the closing months of 2008. Profit fell 32 percent to about 23 billion yuan (US$3.36 billion),...

Baosteel starts iron ore talks with Rio

Business | Metallurgical industry
2009-1-14

BAOSTEEL Group Corp, China's biggest steel maker, started annual iron ore contract talks with Rio Tinto Group on Monday amid expectations prices may plunge, two company executives said. The companies exchanged...

Baosteel using pacts tactic to weather the economic downturn

Business | Metallurgical industry
2009-1-1

IN a ploy to weather the economic downturn, Baosteel Group Corp has signed several strategic cooperation pacts with logistics partners and customers. The top Chinese mill on Tuesday signed a framework deal with...

Baosteel to help in Expo work

Business | Metallurgical industry
2008-12-27

BAOSTEEL Group Corp, China's biggest steel maker, will supply 86,300 tons of steel for construction of the 2010 Shanghai Expo facilities, said Pu Kangguo, manager of material supply for key projects. Baosteel...

Slowdown Not To Deter US$8.7b Zhanjiang Project

Business | Metallurgical industry
2008-12-6

BAOSTEEL Group Corp yesterday said the global economic slowdown won't deter its plans for a 60-billion-yuan (US$8.7 billion) steel plant project. The Zhanjiang, Guangdong Province, project, which would increase...

Delay to Baosteel's Brazil venture

Business | Metallurgical industry
2008-12-6

BAOSTEEL Group Corp, China's largest steel maker, yesterday said construction of a US$4-billion steel-slab venture with Cia Vale do Rio Doce in Brazil may be delayed by six to nine months because the government wants...

Toughest period for Baosteel Group

Business | Metallurgical industry
2008-11-28

BAOSTEEL Group Corp, China's top mill, is facing its toughest period in history as the economic downturn weighed on steel markets, an executive said, and traders believed that the company plans further price cuts. ...

Baosteel to boost output 5% to make high quality items

Business | Metallurgical industry
2008-9-27

BAOSTEEL Group Corp expects to raise crude steel output by nearly 5 percent this year to produce more high quality products to help China replace imports, Chairman Xu Lejiang said yesterday. China's top mill will...