Baosteel sees weak market in H2

Baosteel Group Corp said although conditions in the steel market may change, it would remain weak overall in the second half of the year, Vice Chairman Liu Guosheng said Tuesday.

Baosteel seeks 70% boost to production

Baosteel Group plans to raise annual crude steel production capacity by nearly 70 percent over the next five years, the company said Monday.

Quoted steel prices of Baosteel will drop sharply in July

Baosteel, China's biggest steel maker, has lowered its quoted steel prices for July, especially on auto sheets, according to an unreleased document that has aroused great attention within the industry on Thursday.

Baosteel tests out long-term impact

Baosteel Iron and Steel Co, China's largest listed steel maker, is importing iron ore at a temporarily-negotiated price and is carrying out stress tests to gauge the impact of possible new pricing mechanisms on its mid- to long-term costs, a company official said Wednesday.

Baosteel plans steel price rise

Baoshan Iron and Steel Co, China's largest steel maker, said it will increase steel plate prices for May after iron ore prices climbed.

Baosteel net profit down 10% in 2009 on sagging demand

China's leading steel maker, Baosteel, announced Wednesday that its net profit shrank 9.95 percent in 2009 year on year to 5.8 billion yuan (850 million U.S. dollars).

Baosteel increases February manufacturer prices

Baoshan Iron & Steel Co (Baosteel), the nation's largest steel mill, significantly raised its February manufacturer prices Wednesday.

Baosteel set to lead iron ore parleys

Action seems to be hotting up on the iron ore price negotiation front with steelmaker Baosteel Group replacing China Iron and Steel Association (CISA) as the chief negotiator for the Chinese side in its talks with the big three iron ore suppliers.

Baosteel may focus more on resources

Baosteel Group Corp's overseas expansion plans will focus on raw materials until a "clear" picture emerges about global steel demand.

Baoshan Iron & Steel Co., Ltd. (Baosteel)

Baoshan Iron & Steel Co., Ltd. (Baosteel)

Baosteel takes over stake in Aquila

Baosteel Group, China's leading steelmaker, announced on Monday its acquisition of 15% stake in Aquila Resources, an Australian iron ore and coal company.

Lease deal: Baosteel, ALD unite

Baosteel Group's investment arm has teamed up with ALD Automotive to set up a vehicle-leasing firm in Shanghai, the two companies said Tuesday.

Baosteel iron ore bid re-examined

Baosteel Group Co has been asked by the Australian government to resubmit its application to invest US$240 million for a 15-percent stake in iron ore explorer Aquila Resources Ltd.

Baosteel's bid for Australian mining company approved

Baosteel, has been given a nod of approval from the Australian Foreign Investment Review Board to invest US$240 million in return for a 15 percent stake in Aquila Resources Ltd.

Baosteel's profits in H2 set for sharp rise

Baoshan Iron & Steel Co said earnings will be significantly improved in the second half of the year from the first six months as market conditions improve, according to President Ma Guoqiang.

Baosteel to buy 15% stake in Aquila

Baosteel Group, China's largest steel maker, said Friday it has agreed to pay 285.6 million Australian dollars (US$240.7 million) for a 15-percent stake in Australian miner Aquila Resources.

Baosteel's first-half profit down 92.7%

Baoshan Iron & Steel, the listed unit of China's biggest steel maker, reported a net profit of 669 million yuan (US$98 million) in the first half, down 92.77 percent year on year.

Baosteel to hike key Aug steel prices by 9-13%

China's Baosteel will raise prices of its major steel products by 9 to 13 percent next month, more than expected, the biggest one-off increase since Baosteel moved from quarterly to monthly prices last May.

Baosteel's top slot facing threat from Hebei Steel

Following a major restructuring late last year, Hebei Iron & Steel Group (Hebei Steel) has overtaken industry "dragon head" Baosteel in terms of output, giving it the clout to share the platform with the Shanghai producer in price setting and negotiations with overseas ore suppliers.

ABC signs three-year deal with Baosteel

The Agricultural Bank of China yesterday signed a cooperation deal with Baosteel Group Co in Shanghai which includes a credit line of 50 billion yuan (US$7.32 billion) to finance the steel maker's growth.

Hebei Iron arms merger to challenge Baosteel

The Hebei provincial government has grabbed the initiative to reform its steel industry to compete with the big boys, particularly Shanghai-based Baoshan Iron and Steel, or Baosteel.

Baosteel burns its fingers on costly nickel hedges

The sharp fall in commodity prices in the recent months has caught many domestic enterprises off guard.

Baosteel gears up for 20b yuan bond float

Baosteel, China's leading steelmaker, has obtained approval to raise up to 20 billion yuan (US$2.93 billion) in new capital in a bond issue to help trim its debt servicing costs.

Baosteel keeps prices unchanged

Baoshan Iron & Steel Co has maintained prices of major products for June, industry sources said yesterday, reflecting a market outlook that steel prices may stop falling.

Baosteel cuts prices again to narrow gap

Baoshan Iron and Steel Co has cut prices of major products for May delivery by up to 7 percent from April levels, its second consecutive monthly price reduction, as China's top mill narrows a price gap with domestic rivals.

China's Baosteel to form JV with domestic rivals

Baosteel Group, a leading Chinese steelmaker, announced Sunday it would form a new joint venture with two domestic rivals in eastern Zhejiang Province.

Baosteel restarts No. 1 blast furnace

Baoshan Iron & Steel Co, China's biggest steel maker, restarted its No. 1 blast furnace on February 16 as prices recovered, the China Iron and Steel Association said on its Website on Wednesday.

Baosteel to merge with large rivals

Baosteel Group Corp, China's biggest steel producer, will take over two rivals as part of the nation's plan to create bigger steel makers to gain bargaining power for iron ore, according to the China Iron and Steel Association.

Baosteel ups output on higher demand

Baoshan Iron and Steel Co, China's second-biggest stainless steel producer, is raising output as building demand improves because of China's 4-trillion-yuan (US$586 billion) stimulus plan.

Vale and Baosteel cancel plant plans

Cia Vale do Rio Doce and China's Baosteel Group Corp canceled plans to build a Brazilian steel-slab plant after a global economic slowdown reduced demand for metals and environmental rules blocked use of mill sites.

Baosteel secures contract for large aircraft program

Baosteel, one of China's largest steel producers, has secured a contract from Commercial Aircraft Corporation of China Ltd (CACC) to research and develop specialized steel plates for China's large aircraft program, a company official said.