China’s Jiuquan Iron and Steel Company or Jisco’s steel production in 2020 increased by 18.3pc from a year ago to 8.75mn mt, which includes the production of 1mn mt stainless steel, according to a company statement. The company’s electrolytic aluminium rose by 3pc from a year ago to 1.6mn mt, Jisco also registered a power output of 22.65bn kWh in 2020.
The company expects an operating income of CNY114.1bn ($17.6bn) for the year 2020, up by 10.2pc from the prior year. Investments for technological advancement was CNY2.53bn, which is 2.6pc of operating income. Investments into fixed asset projects were CNY2.28bn and 32 projects were completed.
Highlights of the year include developing new products and trial production of 420,000mt and authorization of 205 patents. In 2020, Jisco self-developed antibacterial stainless steel, high-end razor uses of SS to achieve import substitution and increase domestic market share. The company also fine-tuned its zinc, aluminium and magnesium products segment which exceeds 70,000mt annual production. The market share of high-strength aluminized zinc sheets used in construction exceeds 20pc. The company also developed wide-width cast-rolled aluminium sheets and achieved stable mass production of medical quality high-end aluminium foil blanks along with the production of lighting panels and panels for kitchen use.
The company is also focusing on developing hydrogen metallurgy technology, promoting the application of aluminium electrolytic, reducing the cost of aluminium production and innovating solid waste resource utilization. Beside, Jisco has invested CNY1.17bn for modernization and digital transformation projects including 3D printed intelligent casting, 5G smart mine project for Xigou Mine. The company upgraded its No. 7 iron blast furnace to improve its annual iron output and reduced labour costs.