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Steel industry undergoes key changes in 2006
(Xinhua)
Updated: 2006-12-31 14:20
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The year 2006 has witnessed major changes in China's iron and steel industry, in areas such as the national distribution of plants, the regrouping of companies, the upgrading of products and the ownership of enterprises, observers have said.
MOVING TO PORT CITIES
"China's iron and steel companies are moving to port cities and places with raw materials, which is the most outstanding change in the industry distribution," said Liu Rujun, vice chairman of the China Iron and Steel Association.
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Shougang Group, a steel giant based in Chinese capitalBeijing, will complete its massive relocation to Tangshan,HebeiProvince by the end of 2010, which the company said would benefit its development.
The benefits are obvious. Shougang Group officials said their transportation cost would be greatly reduced and supply of raw material guaranteed because of Caofeidian port and abundance of iron ore in Tangshan.
Shougang is not the only steel company in China to seek its own port in coastal cities.
ShanghaiBaoshan Iron and Steel Corp. (Baosteel) has built a new steel factory in the southern city of Zhanjiang. Wuhan Iron and Steel Corp has built a modern iron and steel works in Fangchenggang, also in south China. Angang Steel Co. has started its new plants in Yingkou in northeast China.
Baosteelofficials attributes the moves of Chinese steel companies to port cities to China's growing dependence of ore imports.
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