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Create a base of steel scrap substitute in the ore

    Upon successful completion of the acquisition of Midwest, Sinosteel will also seek to acquire more mineral resources,booster cables and create a scrap processing base in the Northeast, and further build China's largest steel service providers.

    Previously, China Steel Group has been completed during the year,battery clip A-share listing plan preparation, but now this work has been suspended.

    "Although China Steel A + H shares listed on the program of the State Council,tow rope the SASAC have passed, and soon was listed on CSR is the basic synchronous, but because of the current stock market is not ideal, has been deliberately placed in the steel slow the pace of the market.ratchet tie dowm "Sinosteel President Huang Tianwen disclosed yesterday that the steel will not change the overall market strategy, and its now listed on the integration of two companies listed in China Steel will not be changed.

    Although no large-scale temporary financing, but the funds are not in tension steel, and many specific projects have been successively after the initial investment into the harvest period. Such as in Shandong and Chifeng mining operation to be achieved, the development of nickel mine in Indonesia before the end will also be put into operation early this year, investment in iron ore project in Cameroon will soon put into production, Zimbabwe's iron ore project has been put into the building, the other Cangzhou Bohai Sea Area and Baoshan Iron and Steel in joint venture projects have been started nickel-iron.

    The reason why large-scale investment in mineral resources, mainly from the steel industry in the future promising. Huang Tianwen told reporters that the steel industry in the next 10 to 15 years will remain stable development, though not so big increase, but the increase will be 10% to 15%, "of course, there is fluctuation, but the steel is currently still high, the main problem is the price of imported ore and other raw materials rising, may lead to decline in the profit level of iron and steel enterprises, but may not promote the competitiveness of business failures, it will instead help to improve concentration, speed up the reorganization of the domestic steel industry . "

    Huang Tianwen revealed that at present China Steel is planning the construction of Shenyang in the northeast scrap processing base for the new company is being "Northern Resources" to register, is expected to put into operation for 2 years.

    "Now the iron and steel industry developed rapidly, resulting in a lot of scrap, which in turn can be substituted for ore and other raw materials for new steel production." Huang Tianwen pointed out that scrap steel processing base for the construction of the initial investment 500 million yuan, capacity of 100 million tons, in the country is very large, and will introduce U.S. technology and equipment.

    According to report, China Steel has been associated with the local government of Shenyang signed a contract to build the China Steel Group in Shenyang in the north of the base metal resources. Sinosteel will initially invest 80 billion plan to 100 billion yuan, is expected to advance and West, respectively, in Liaoning invest 60 billion yuan and 20 billion yuan, in the coastal economic zone and the Shenyang Economic and Technological Development Zone, construction of industrial parks were to scrap metallurgical processing, iron ore storage, processing of oxide pellets, used car dismantling, processing and distribution of steel and other metal resources, processing and distribution projects.

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iande Weida Electrical Appliance Tools Co.Ltd. professionally manufacture booster cables , battery clip, tow rope,ratchet tie down.