Baosteel 12 billion capital increase of zhanjiang iron and steel

"Despite some recovery in the second half of the steel market demand, but there are still a lot of uncertainty, at the same time, after a brief dip ore index, rapid rebound, remains high, the other the original fuel prices there is also a rebound momentum. In addition, in the American carbon steel eccentric reducer second half of the company's internal faces no. 3 blast furnace overhaul, hot and cold in repairing series, steel resource will be reduced."

In baosteel half year results shows that the meeting held yesterday, baosteel new Dai Zhihao general manager's comments, shows that the second half of the steel market is still not optimistic, and still have a lot of profits in the core business of steel, baosteel will be the hope ASME B16.9 Butt Welded reducing tee of the future in the new material such as zhanjiang steel projects and aluminum plate, e-commerce and other new business.

Half annual report released on Saturday, baosteel, the company net profit attributable to shareholders of listed companies of 3.7 billion yuan, down 61% year-on-year, but the profit decline is mainly due to the first half of last year the company to sell stainless steel, special steel ansi b16.5 class 150 weld neck flange group related assets revenue of 9.09 billion yuan, and after deducting non-recurring gains and losses, the company in the first half of this year net profit of 3.67 billion yuan, up 54% from a year earlier.

Compared with other iron and steel industry, baosteel main asset is carbon steel, the results are still within the float subsequently, baosteel also want copies the company's operation and management mode to south China, strive for more market space.

"Company intends to zhanjiang steel unilaterally capital 12 billion yuan, holding the equity of zhanjiang steel increased to 90%, is expected to begin in zhanjiang project in September 2016." Dai Zhihao yesterday revealed that baosteel steel users in southern China region by the Shanghai base and MeiGang base to supply at present, after the completion of zhanjiang base will form the annual output of 9 million tons of production scale, the main target audience is in southern China automobile, home appliances, shipbuilding and other industries.