Baowu Steel Group invests in 300,000tpy aluminum alloy deep processing project
2019-10-23 17:48:05 [Print]
According to China Baowu Steel Group Corporation Limited (hereinafter referred to as "Baowu Steel"), the General Manager and Deputy Secretary of the Party Committee of the company visited Baowu Aluminum Technology Co., Ltd. (hereinafter referred to as "Baowu Aluminum") in Sanmenxia recently for field investigation. The first phase of the project has a total investment of nearly 7 billion yuan (about 988 million US dollars) to build an aluminum alloy deep processing production line with an annual output of 300,000t.
Baowu Aluminum, a holding subsidiary of Baowu Steel, is a scientific and technological enterprise invested by Baowu Steel, Henan Energy and Sanmenxia municipal government based on the common development strategy, which is engaged in the deep processing of aluminum materials and the production of high value-added aluminum plates. The main products include high-grade, precision and advanced aluminum plate and strip products urgently needed in the domestic key fields, which are widely used in the fields of automobile, aerospace, military industry, rail transit, etc.
Baowu Aluminum was originally invested by Henan Energy in 2011 and scheduled to be put into operation in 2020. After nearly three years of negotiation among Baowu Steel, Henan Energy and Sanmenxia municipal government, the three parties reached an agreement and signed a joint venture agreement on February 1 in Zhengzhou.
On February 26, Baowu Steel signed a commission management agreement with Baosteel, which entrusted Baosteel with the management of 51% of Baowu Steel's shares.
Baowu Aluminum, a holding subsidiary of Baowu Steel, is a scientific and technological enterprise invested by Baowu Steel, Henan Energy and Sanmenxia municipal government based on the common development strategy, which is engaged in the deep processing of aluminum materials and the production of high value-added aluminum plates. The main products include high-grade, precision and advanced aluminum plate and strip products urgently needed in the domestic key fields, which are widely used in the fields of automobile, aerospace, military industry, rail transit, etc.
Baowu Aluminum was originally invested by Henan Energy in 2011 and scheduled to be put into operation in 2020. After nearly three years of negotiation among Baowu Steel, Henan Energy and Sanmenxia municipal government, the three parties reached an agreement and signed a joint venture agreement on February 1 in Zhengzhou.
On February 26, Baowu Steel signed a commission management agreement with Baosteel, which entrusted Baosteel with the management of 51% of Baowu Steel's shares.
Aluminum Scrap Zorba 98-1 CIF China
Unit:USD/mt
China aluminum bar producers' inventory to production ratio statistics by province by month
Unit: %
