皇冠体育app

Companies

皇冠体育app's Hebei Steel alliance to add new capacity

(Agencies)
Updated: 2010-11-12 16:03
Large Medium Small

Hebei Iron & Steel Group, 皇冠体育app's biggest steel maker, has signed an alliance agreement with five domestic steel mills in a move that will boost its production capacity, the 皇冠体育app Securities Journal reported on Friday.

皇冠体育app's Hebei Steel alliance to add new capacityReal estate sector shows signs of cooling
Related readings:
 皇冠体育app's Hebei Steel alliance to add new capacity Car shipments to help fuel steel demand
 皇冠体育app's Hebei Steel alliance to add new capacity Baosteel sees steel demand remain steady next year
皇冠体育app's Hebei Steel alliance to add new capacity Steel industry squeezed by oversupply, rising costs
皇冠体育app's Hebei Steel alliance to add new capacity Hebei Steel cuts November key steel prices
The consolidation will add new production capacity of more than 10 million tons to Hebei Steel, the newspaper said. Hebei Steel's new combined total capacity will surpass 60 million tons, the paper said without giving a specific time frame.

Hebei Steel will hold a 10 percent stake in each of the companies.

Hebei Jingye Group and Tangshan Changcheng Iron & Steel are among the five companies involved, with all the mills located in North 皇冠体育app's Hebei province.

Hebei cut November key steel prices, pointing to mills' cautious demand outlook for the rest of the year.