Mysteel cited Mr Ma Guoqiang GM of Baosteel Co Ltd as saying that, the company plans to keep its sales of oriented silicon steel in 2010 basically even with that in 2009.

Mr Ma said Baosteel accumulatively sold out 88,900 tonnes of oriented silicon steels in 2009. The gross profit of this product marked the first line of the company money earning list.

According to the report, the lately released annual report of Baosteel showed the company produced over 1 million tonnes of non oriented silicon steel last year, taking the first place. It also improved the percentage of high end oriented silicon steel to over 50% and realized stable supply to more than 300 users at home and abroad.

Last year, Baosteel made great breakthrough in developing top high grade silicon steel and successfully churned out the laser scribed oriented silicon steel, breaking down the monopolization by oversea sources. It’s still noted in the report that Baosteel plans to offer CNY 19.55 billion of budget in fixed asset investments, which will mainly be put into the following project for its oriented silicon steel project and the second phase project in Luojing under its medium plate plant.

(Sourced from MySteel.net)
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