Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

The Jiangsu Shagang Group (Shagang), China’s largest privately-owned steelmaker, announced plans to invest CNY14.8bn ($2.25bn) in acquiring, consolidating, and modernizing steel mills in the Henan province to create a centralized manufacturing base.


Through the company’s Henan-based subsidiary Anyang Yongxing Special Steel, Shagang plans to increase its annual iron and steelmaking capacity in the province from 1.85mn mt and 2.22mn mt, respectively, to 4.94mn mt and 5.5mnt mt, according to local media.


According to data compiled by China’s National Bureau of Statistics, Henan produced approximately 29.26mn mt of crude steel through the first 10 months of 2020 compared with 27.10mn mt in the same period the prior year.



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