Liugang Zhongjin to set-up CRC steel plant
China’s Liugang Zhongjin Stainless Steel, a subsidiary of Liuzhou Iron and Steel Group, held the ground-breaking ceremony for a cold-rolled steel project in Yulin city, Guanxi province. The plant will manufacture high-end stainless steel and copper for deep processing industrial base. The plant will be constructed on 34-hectare land with an investment of CNY1.3bn. Post the completion of the Liugang Zhongjin project, the production capacity will be 350,000mt of stainless-steel coils and 480,000mt of stainless steel cold-rolled coils. The plant will provide high-quality raw materials for downstream stainless-steel products.
China Jan-Feb steel exports down 27pc
China’s steel export in January and February declined by 27pc to 7.8mn mt from the year prior amid the COVID-19 outbreak which caused a slowdown in its economic activity. Overseas shipments fell by 17.2pc in the period from the prior year. China imported 2.04mn mt of steel products in January and February, up by 2.1pc from the prior year.