September 06, 2008

Baosteel ships first iron ore parcel to Xinjiang Bayi Steel

It is reported that Baosteel has lately shipped first batch of iron ore to Xinjiang Bayi Steel which it has taken over to feed the operation bound No 1 blast furnace. This is reportedly the first time for ore procurement of Bayi Steel since it joined Baosteel and shares integrated purchasing system.

As per report over the year since being incorporated, Bayi Steel's technical equipment, management level and production scale are much promoted. When it is in urgent need of iron ore resource to operate the No 1 blast furnace, yet cannot be met by its new mine, Baosteel moved to help it with imported iron ore. Baosteel and Handan Steel's JV in Qingdao shipped the batch of 60,000 tonnes iron ore as a distribution platform of Baosteel in the North.