China Steel plans $12.8m investment for coil centre in east China

Taiwan’s China Steel Corp plans to invest $12.8 million to set up a coil shearing and distribution centre in Jiangsu province’s Kunshan city in mainland China.

Paragraph entered by Atlantic migration, in order for SteelFirst articles to display correctly on Metal Bulletin.

The move is to expand its sales channels as well as establish sales bases in east China, the Taiwanese steelmaker said in a statement on Friday March 21 following a board meeting earlier in the day.

The coil centre – of which it will have 80% ownership – will be set up through China Steel Asia Pacific Holdings in Singapore, CSC said.

What to read next
Fastmarkets will amend the specifications of its existing price assessments for Europe/US lithium spot battery-grade and technical-grade lithium hydroxide and carbonate to remove the US footprint, and will launch weekly price assessments for spot battery-grade and technical-grade lithium hydroxide and carbonate for the United States and Canada on Thursday April 4.
This initiative marks a significant step towards reducing industrial greenhouse gas emissions and championing the US in the global decarbonization effort
The most recent financial results published by base metals mining companies highlight just how inflation is affecting profit margins, with increasing wages, financing costs and input prices all hitting profits, sources told Fastmarkets in the week to Thursday March 28
Century Aluminum is among those selected to start award negotiations for up to $500 million in Bipartisan Infrastructure Law and Inflation Reduction Act funding to build a new aluminium smelter, the company said on Monday March 25
Fastmarkets launched its first price assessment for MB-FEC-0024 Ferro-chrome 50% Cr, delivered Europe, $/lb Cr on Tuesday March 26.
Fastmarkets has amended the publication date of the latest European charge and high-carbon ferro-chrome benchmark to reflect the date from which the benchmark applies after the price was erroneously published on the date it was announced (March 25).