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Ternium Pesqueria Hot-Strip Mill Adopts Advanced Danieli Material-Flow Technology

Ternium chose Danieli to supply an inventory management system and fully automatic handling equipment that will feed 4.1 million tonne per year of slabs to a greenfield hot-strip mill at Pesqueria, Mexico. The purpose is to optimize incoming slab flow by applying artificial intelligence for the Slab Yard Management System, in direct connection and communication with the downstream process of the Hot-Strip Mill. A complete handling system, including 10 EOT cranes, seven transfer cars and two destackers, will receive slabs from the mill and to distribute and transfer these products through the intermediate and final storage areas. The Slab Yard Management System calculates the task for all operating equipment according to the forecast production mix submitted by the Plant MES; optimizing the movements and the relocation of each slab; and thus in real-time tuning the mission to the actual needs determined by the product mix and equipment status. Slabs are moved by autonomous transfer cars from the arrival bays to the RHF charging bays. Slabs in the charging bay are stored according to the RHF charging sequence, in order to optimize the crane cycles during the loading phase, to reduce the loading cycle time and increase the flexibility in case of any change in the production schedule. Properly sequenced slabs are stacked below two destackers, which continuously load slabs on a 50-m long roller table, and feed them directly into the HSM furnace, according to the production mix and required schedule.

The SYMS is installed on a central server, and includes the main intelligent functions for yard management, such as:

- Yard Storage optimization

- Crane movement optimization

- Multi-crane bay coordination

- Crane downtime and maintenance management

- Other functions for cranes-to-transport-device handling also are hosted.

Source : Strategic Research Institute
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Danieli to Erect New Cold Rolling Mill at Walzholz New Materials

Walzholz relied on Danieli to expand production of high-performance steel strip. Mill housings of the 4-high Danieli Frohling cold rolling mill were successfully installed in Taicang, Jiangsu province, China. The new cold reversing mill is designed to roll a wide product mix of special steel grades, from an entry thickness of more than 5 mm down to a finish thickness of below 1 mm at a maximum strip width of 670 mm. The mill can also be operated in skin-pass mode. The mill is designed with independently driven, “twin drive” work rolls, and high-torque drive spindles.

Danieli Automation will provide electrics and automation, including HiPAC automation system which provides real-time automatic thickness and flatness control. An intelligent data analysis systems, ready for Industry 4.0, will be connected to Walzholz proprietary process data management system.

Danieli is responsible for full equipment turn-key supply, starting from design and manufacturing, until complete erection and commissioning activity. The cooperation will also extend beyond the final plant acceptance aiming for a long-term process enhancement support and service.

Source : Strategic Research Institute
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How Steel Played a Role in the Era of Rock and Roll - worldsteel

From its use in acoustic steel guitars in the 1930s, to modern pick-ups and guitar strings, steel has played a central role in the evolution of popular music. By providing the technological leap that made rock and roll possible, the electric steel string guitar changed music forever. The unique sound created by the magnetic pickup device at the heart of the instrument, combined with its steel strings gave rise to a new wave of musical expression. From rock-a-billy to punk, progressive, hard and just plain rock, it is the reverberations of a steel string electric guitar that made all these variations possible and played a hand in creating iconic songs the world over. Stainless steel strings, which entered popular use in the 1960s, are known for giving guitars a clear, bright sound with plenty of sustain While the skills of such musical luminaries as Chuck Berry, Jimi Hendrix, and Keith Richards can seem otherworldly, the true magic behind the electric guitar are the magnetic fields that make it work. Key to this is the ‘pickup’ – a permanent magnet with a wire coil wound around it that is fitted to each electric guitar.

The pickup magnet’s north pole faces outwards from the guitar body, magnetising the steel strings suspended above it. The strings in turn become magnets themselves, with their magnetic field in alignment with the permanent magnet. The steel string is absolutely integral to the workings of the electric guitar and, when plucked, the strings’ magnetic vibrations are converted into an electrical signal for the amplifier using the pickup.

The all-important pickup was created in 1931 in Los Angeles when an electrical instrument company wanted to see how they could amplify a guitar’s sound electrically. The steel guitar was already in existence and was played on the lap, but the sound produced was not loud enough to be heard by large audiences. The solution? To develop an electrified steel string guitar.

The first ‘electrical stringed musical instrument’ was patented in the US in 1937, and was the work of George Beauchamp, a musician and general manager of the National Guitar Corporation, and Adolph Rickenbacker, an electrical engineer. In the early years after the invention of the pickup, however, electric steel guitars were still played on the lap.

At the beginning of the electric steel guitar’s history it was mainly played for jazz, swing, folk, Hawaiian and country music. “It goes a long way back in popular music, the idea of the steel guitar,” says University of Surrey music lecturer Doctor John McGrath. The rock and roll sound was yet to come, but with the technology in place it was just around the corner.

Source : Strategic Research Institute
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FECON Strengthened Ties with Nippon Steel

Leading Vietnamese contractor specialized in construction engineering and underground construction FECON has strengthened ties with Nippon Steel for application of Japanese steel technology into infrastructure works across Vietnam. Under the signed co-operative deal, FECON and Nippon Steel Corporation will team up for the application of state-of-the art steel products such as steel pipe sheet pile foundation, NS ECO-PILE, and steel sheet piles. They will also discuss potential construction operations in Vietnam and use suitable steel structures and technology for those projects.

In addition, FECON and Nippon Steel Vietnam along with Nippon Steel Spiral Pipe Vietnam Co Ltd have agreed to apply similar technology into specific projects in other Southeast Asian countries such as Laos and Myanmar.

Since the partnership began in 2011, both sides have taken the opportunity to advance co-operation on the basis of development and use of Nippon Steel’s cutting-edge technology.

Source : Strategic Research Institute
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JSPL Imports Limestone at Gopalpur Port

Business Standard reported that Jindal Steel & Power Ltd o imported 105,000 tonnes of steel grade limestone from the Middle East in a ship owned by Essar Shipping at Gopalpur Ports. Mr Amit Saboo Managing Director of Shapoorji Pallonji Port Maintenance Pvt Ltd said that “We are very proud to have successfully handled a vessel carting 105,000 tonnes on October 12, 2019. In a short time, Shapoorji Pallonji Group has made significant progress in making Gopalpur Port a world class port."

Gopalpur Port is undertaking an expansion programme which, among other things, entails dredging of the channel to enable it to receive large ships. With completion of dredging, the port is capable of receiving modern, large sized ships which can cater to the needs to its customers.

Source : Business Standard
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Vale’s Announces Pellets Production & Sales Results for Q3 2019

Vale’s pellets production was 11.1 million tonnes in 3Q19, 22.7% higher than in 2Q19, mainly due to better operational performance, which was impacted in 2Q19 by the maintenance carried out at the Tubarao plants, and 19.8% lower than in 3Q18, mainly due to stoppage at the Fabrica and Vargem Grande operations. On September 26th, 2019, Vale revised its pellets production guidance to 43 million tonnes from the 45 million tonnes previously announced in “Vale’s Production and Sales in 2Q19” report to adapt its product portfolio to temporary market conditions.

Northern system - Production at the Sao Luis pellet plant was 1.1 million tonnes in 3Q19, 0.6 Mt higher than in 2Q19, mainly due to restored pellet feed moisture, which was impacted in 2Q19 as a result of abnormal rains in the Northern System.

Southeastern system - Production at the Tubarao pellet plants, Tubarao 1, 2, 3, 4, 5, 6, 7 and 8, was 7.6 million tonnes in 3Q19, 1.5 million tonnes higher than in 2Q19 and 1.1 million tonnes lower than in 3Q18, mainly due to greater productivity at the plants, which was partially offset by scheduled maintenance carried out at plants 5 and 6 and maintenance stoppage at plants 3 and 4.

Southern system - Fabrica and Vargem Grande pellet plants operations were halted on February 20th, 2019,

Source : Strategic Research Institute
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Rio Tinto Releases Third Quarter Production Results

Rio Tinto chief executive J-S Jacques said “We have delivered improved production across the majority of our products in the third quarter, with a solid result at our Pilbara mines driving increased sales of iron ore into robust markets. Our strong value over volume approach, coupled with our focus on operational performance and disciplined allocation of capital, will continue to deliver superior returns to shareholders over the short, medium and long term.”

Voor cijfers, zie pdf.

Pilbara iron ore shipments of 86.1 million tonnes (100% basis) in the third quarter were 5% higher than the third quarter of 2018. Pilbara iron ore production of 87.3 million tonnes (100% basis) was 6% higher than the third quarter of 2018 and 10% higher than the previous quarter, reflecting a good recovery from the operational and weather challenges experienced earlier in the year.

Third quarter bauxite production and shipments to third parties were 9% and 23% higher, respectively, than the same period of 2018. Bauxite production from non-managed Joint Ventures was lower than planned year to date.

Aluminium production of 0.8 million tonnes was 3% lower than the third quarter of 2018, primarily reflecting a preventive safety shutdown at one of the three pot-lines at ISAL in Iceland and earlier than planned pot relining at Kitimat in British Columbia, Canada.

Mined copper production of 158 thousand tonnes was 1% lower than the third quarter of 2018, but 15% higher than the second quarter, reflecting higher grades at Kennecott and improved throughput at Escondida.

At the Oyu Tolgoi underground project, the primary production shaft (shaft 2) remains on track for commissioning this month. Since July 2019, we have completed key infrastructure, including the central heating plant, the shaft 2 jaw crusher system and the surface discharge conveyor. Work continues on the mine re-design.

Titanium dioxide slag production of 321 thousand tonnes was 8% higher than the third quarter of 2018, reflecting a continued improvement in operational performance and the restart of furnaces in 2019.

Third quarter production at Iron Ore Company of Canada was 3% higher than the corresponding quarter of 2018 and 17% higher than the previous quarter, reflecting a return to normal operating conditions following the flooding incident which impacted June.

Guidance is unchanged, with the exception of bauxite production, which has been revised to around 54 million tonnes (previously 56 to 59 million tonnes), and alumina production, which has been revised to around 7.7 million tonnes (previously 8.1 to 8.4 million tonnes).

On 25 September 2019, Rio Tinto announced the signing of a Memorandum of Understanding with China Baowu Steel Group and Tsinghua University to develop and implement new methods to reduce carbon emissions and improve environmental performance across the steel value chain.

Third quarter exploration and evaluation spend was $177 million, 62% higher than the same period of 2018, primarily reflecting increased activity on advanced projects.

Source : Strategic Research Institute
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Aluminium Beverage Can Recycling in Europe Hits Record 74.5% in 2017

The overall recycling rate for aluminium beverage cans in the European Union, Switzerland, Norway and Iceland in 2017 rose 2.3% from 2016 (72.8%), to reach an all-time record 74.5% in 2017. Almost 31 billion cans were recycled in the EU and EFTA countries in 2017, representing a total of more than 420,000 tonnes of aluminium and underscoring its contribution to the European circular economy. Leonie Knox-Peebles, CEO of Metal Packaging Europe, stated that “We believe that the new European calculation method will hardly impact the final recycling rates being achieved for aluminium beverage cans.”

Maarten Labberton, Director Packaging Group at European Aluminium, added “As we move towards our 100% recycling rate target, what matters most is the recycling yields; aluminium is well positioned for the future given its very low losses during recycling.”

Recycling aluminium consumes 95% less energy than producing it from raw material, while the recycling process generates only 5% of the greenhouse gas emissions produced from raw material production.

Source : Strategic Research Institute
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Turkish steel exporters See No Impact of Hikes US tariffs

Daily Sabah reported that Turkish exporters said the recent US decision to raise import tariffs on Turkish steel would have little to no impact as they already have alternative plans to sustain the momentum in steel export. Mr Veysel Yayan, secretary-general of the Turkish Steel Producers Association, said "The US market has already been a bit of troublesome for us for the last three years. We substituted the sales we lost there with new and other existing markets. Steel exports to the U.S. have declined over the years. "Had customs duties not been reduced to 25% in May, we would not have been able to export at all this year. We offset the decline in our exports to the US last year with a rise in sales to the EU."

Turkey's steel exports to the US stood at USD 1.1 billion in 2016, USD 1.8 billion in 2017, USD 910 million in 2018 and USD 190 million in the first eight months of 2019, a fraction of total USD 6.7 billion

Daily Sabah
www.dailysabah.com/business/2019/10/1...

Source : Daily Sabah
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China unveils Scheme to Control of Air pollution in 28 cities around Beijing, Tianjin & Hebei

On October 16, the Ministry of Ecological Environment issued the "Scheme for Comprehensive Control of Air pollution in Autumn and Winter in 28 cities around Beijing, Tianjin and Hebei". In order to promote the continuous improvement of ambient air quality in Beijing, Tianjin, Hebei and its surrounding areas, the Plan has formulated six main tasks and six safeguard measures, including adjusting and optimizing the industrial structure, speeding up the adjustment of the energy structure, and actively adjusting the transportation structure. Among them, the "plan" requires that all localities should, in accordance with the requirements of the local industrial restructuring and high-quality development of iron and steel, building materials, coking, and chemical industries, refine and decompose the tasks of 2019, clarify the main equipment corresponding to the elimination of production capacity, and ensure that they are completed on time and make phased progress.

The plan points out that Hebei, Shandong, and Henan should increase the reduction of independent coking enterprises in accordance with the goal of reaching a ratio of coke production capacity to iron and steel production capacity of about 0.4 by the end of December 2020. Shandong and Henan actively promote the reduction of carbon production lines for aluminum under 100000 tonnes.

The plan also proposed that the ultra-low emission transformation of the iron and steel industry should be implemented with high standards. All localities should strengthen their organization and leadership and properly implement the opinions on promoting the implementation of ultra-low emissions in the iron and steel industry. All provinces (cities) should speed up the formulation of ultra-low emission transformation plans for the local iron and steel industry, systematically organize ultra-low emission transformation work, and determine annual key projects.

In addition, Hebei Province should speed up the reduction of pig iron blast furnaces and converters under 1000 cubic meters for steelmaking. Hebei, Shanxi and Shandong speed up the reduction of coke oven with a height of 4.3 meters in carbonization chamber with long furnace life and poor furnace condition.

Source : SMM News
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World Steel Association Elects New Members for 2019-2020

The Board of Directors of the World Steel Association elected the following new officers for 2019/2020 at the worldsteel General Assembly in Monterrey.

The new officers are elected for a one-year period
Chairman - YU Yong, Chairman, HBIS Group Co Ltd
Vice Chairman - Sajjan JINDAL, Chairman and Managing Director, JSW Steel Limited
Vice Chairman - André JOHANNPETER, Executive Vice Chairman, Gerdau SA
Treasurer – Roger NEWPORT, Chief Executive Officer, AK Steel

The Board of Directors also elected the 2019/20 Executive Committee:
CHEN Derong, Chairman of the Board, China Baowu Steel Group Corporation Limited
Jeong-Woo CHOI, Chief Executive Officer, POSCO
Eiji HASHIMOTO, Representative Director and President, Nippon Steel Corporation
Sajjan JINDAL, Chairman and Managing Director, JSW Steel Limited
André JOHANNPETER, Executive Vice Chairman, Gerdau SA
Koji KAKIGI, President and CEO, JFE Steel Corporation
Lakshmi MITTAL, Chairman & Chief Executive Officer, ArcelorMittal
Alexey MORDASHOV, Chairman of the Board of Directors, Severstal
Thachat Viswanath NARENDRAN, Chief Executive Officer & Managing Director, Tata Steel Limited
Roger NEWPORT, Chief Executive Officer, AK Steel Corporation
Paolo ROCCA, President and CEO, Techint Group
Leon TOPALIAN, President and Chief Operating Officer, Nucor Corporation
YU Yong, Chairman, - HBIS Group Co., Ltd
Edwin BASSON, Director General, World Steel Association (worldsteel)

The Board of Directors also welcomed the following steel producers as regular worldsteel members:
Algerian Qatari Steel (Algeria) represented by Yousef Ahmed AL-MUHANNADI
AZA (Chile) represented by Hermann VON MUHLENBROCK
Big River Steel (U.S.A.) represented by David STICKLER
Chelyabinsk Pipe Plant PJSC (Russian Federation) represented by Boris KOVALENKOV
RL Steels and Energy Limited (India) represented by Nitin Narendrakumar GUPTA

The following are welcomed as affiliated members:
Chermet Corporation (Russian Federation) represented by Yury MISHIN
JPC: Joint Plant Committee (India) represented by Ranjan BANDYOPADHYAY
NCSI: National Committee for Steel Industry (Saudi Arabia) represented by Mohammad AL JABR

Source : Strategic Research Institute
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Thyssenkrupp Elevators Unit Battle Heats Up - Report

Bloomberg quoted people familiar with the matter as saying that the battle for Thyssenkrupp AG’s elevator unit is heating up as rival bidders Kone Oyj and Blackstone Group Inc position themselves with potential partners for a deal that could fetch more than 15 billion euros. Sources said that “Finnish elevator maker Kone is in talks with CVC Capital Partners about teaming up in an offer for the business and Blackstone and Carlyle Group LP have partnered for their own planned joint bid.”

A partnership between Kone and CVC would be a way to address significant antitrust concerns, with CVC acquiring elevator assets in places such as Europe where Thyssenkrupp and its Finnish rival have significant overlap, they said. The talks with CVC are one of several partnership options that Kone is exploring. CVC is also discussing whether it could bid independently in addition to pursuing a joint offer with Kone, two of the people said. No final decisions have been made, and there’s no certainty the suitors will proceed with formal bids, the people said.

Kone and Blackstone will still face stiff competition from other suitors. Brookfield Asset Management Inc and a consortium of Advent International, Cinven and the Abu Dhabi Investment Authority remain in the running, according to the people. The other strategic bidder is Japan’s Hitachi Ltd., the people said.

Source : Bloomberg
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Essar Steel to Make Hazira Plastic Free

Essar Steel India Limited has decided to make its Hazira plastic free. Its other locations will also join in a month’s time. Various steps have been undertaken to eradicate use of Plastic, particularly single use plastic in Hazira plant and its township. All vendors/shops have replaced single use plastic nags with cotton, jute or recyclable paper bags. All plastic cups in canteen/eating joints have been replaced by steel or bone china mugs. Plastic water bottles have been replaced by steel or glass jugs. All food items are packed in recyclable material. Garbage waste disposal in plastic e is banned strictly in the complex and is replaced by cotton/recyclable material bags. Simultaneously an awareness and education campaign on stoppage of single usage plastic is undertaken and vigorously promoted.

Essar Steel is already on course to become a zero-waste company having taken various measures with a policy of “reduce, reuse and recycle”

Source : Strategic Research Institute
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NLMK Supplies Trial Batch of Pre Painted Steel for LG household Appliances

NLMK Lipetsk has supplied a trial batch of pre-painted steel with improved coating quality to leading white goods manufacturer LG Electronics plant in Russia. NLMK steel will be used to make washing machine bodies. The trial batch has been successfully tested at LG Electronics RUS plant in the Moscow Region. A multi-stage quality assessment confirmed that the properties of steel and the quality of the coating as in line with LG Electronics RUS standards. NLMK Lipetsk has custom-designed a product especially for LG Electronics RUS with narrower physical, mechanical and chemical tolerances, and mastered a pre-painting process to ensure a particularly clean finish better colour durability and polish, enhanced flexibility and hardness.

NLMK and LG Electronics RUS are planning to begin regular shipments soon. This general agreement will be the first direct pre-painted steel supply contract signed by LG Electronics RUS with a local Russian manufacturer.

Source : Strategic Research Institute
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Danieli to Supply Fully Automated Slab Handling for Inventory Management to Ternium

Ternium chose Danieli to supply an inventory management system and fully automatic handling equipment that will feed 4.1 million tonne per year of slabs to a greenfield hot-strip mill at Pesqueria, Mexico. The purpose is to optimize incoming slab flow by applying artificial intelligence for the Slab Yard Management System (SYMS), in direct connection and communication with the downstream process of the Hot-Strip Mill. A complete handling system - including 10 EOT cranes, seven transfer cars and two destackers - will receive slabs from the mill and to distribute and transfer these products through the intermediate and final storage areas. The Slab Yard Management System calculates the task for all operating equipment according to the forecast production mix submitted by the Plant MES; optimizing the movements and the relocation of each slab; and thus in real-time tuning the mission to the actual needs determined by the product mix and equipment status. Slabs are moved by autonomous transfer cars from the arrival bays to the RHF charging bays. Slabs in the charging bay are stored according to the RHF charging sequence, in order to optimize the crane cycles during the loading phase, to reduce the loading cycle time and increase the flexibility in case of any change in the production schedule.

Properly sequenced slabs are stacked below two destackers, which continuously load slabs on a 50-m long roller table, and feed them directly into the HSM furnace, according to the production mix and required schedule.

The fully automatic solution is leading to an estimated 20% utilization of the previously required Ternium workforce in the yards, maintaining human supervision only for the material arrival on trains and furnace charging.

Source : Strategic Research Institute
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Ningbo Iron Order Hot Strip Mill Cooling Section from SMS

On 26 September 2019, only 14 months from the placement of the order, steel customer Ningbo Iron & Steel Co Ltd China issued to SMS group the FAC for the successful execution of the laminar cooling modernization in its HSM. The 3/4continuously operating HSM is located in the Zhejiang province roughly 200 km south from Shanghai at the bay of the East China Sea. The rolling mill consists of three walking beam furnaces for slab reheating, a two-stand roughing mill, a seven-stand finishing train, the run-out table with the laminar cooling system as well as three down coilers. The mill capacity is 4 million tons per year in the strip thickness range between 1.2 and 19 millimeters and strip widths between 900 and 1,630 millimeters. The rolled steel material are grades for household and building industry applications as well as grades for the automotive industry.

The main targets of the cooling train modernization were on the one hand improved cooling performance with tighter tolerances for the coiling temperature and on the other hand the extension of the product mix by dual phase steel grades DP 600 and DP 800 for automotive purposes, pipe grades X60 and higher as well as non-grain oriented electrical steel.

Source : Strategic Research Institute
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US DoC Finds Dumping of Imports of Carbon and Alloy Steel Threaded Rod from Thailand

US Department of Commerce announced the affirmative final determination in the antidumping duty (investigation of imports of carbon and alloy steel threaded rod from Thailand, finding that exporters from this country have sold carbon and alloy steel threaded rod at less than fair value in the United States at a rate of 20.83 percent. Upon publication of the final affirmative antidumping determination, Commerce will instruct U.S. Customs and Border Protection to continue to collect cash deposits equal to the final applicable dumping rate.

The petitioner is Vulcan Threaded Products Inc. (Pelham, AL).

The US International Trade Commission is currently scheduled to make its final injury determination on or about November 29, 2019. If the ITC reaches an affirmative final injury determination, Commerce will issue an AD order. If the ITC reaches a negative final determination of injury, the investigation will be terminated and no order will be issued.

Source : Strategic Research Institute
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US Steel Raises Layoff at East Chicago Tin Mill

Pittsburgh-based United States Steel Corp has updated Indiana officials about previously announced layoffs at the East Chicago Tin Mill. The company said that 314, rather than 307, workers will be displaced when the mill is idled this fall. East Chicago Tin makes tin products like paint cans and tin-plated metal for canned foods. US Steel sent a Worker Adjustment and Retraining Notification, or WARN notice, to the Indiana Department of Workforce Development in September to announce the plant closure. Last week, the company updated the letter by saying seven more positions, mostly security jobs, would be laid off in December. The steelmaker said it is consolidating its three tin mills into two facilities as the reason for the idling of the East Chicago plant. The company cites global competition and imports of low-priced tin as part of the reason behind the layoffs.

Mr James Van Buren, director of employee relations for US Steel Gary Works, in the WARN letter to the state said that “The idling is not expected to be permanent but will be of an indefinite period.”

Source : Strategic Research Institute
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Prospect of Turkish Rescue of British Steel Raises Union Concerns

The Guardian reported that Trade union officials and MPs have voiced fresh concerns about the prospect of British Steel being sold to the Turkish military pension fund. Ataer Holdings, owned by the Turkish army retirement fund Oyak. The Labour MP Lloyd Russell-Moyle, who chairs a cross-party group on the Kurdish region of northern Syria, said “The Turkish military is committing war crimes in north-eastern Syria. It is wrong that they be enriched on the backs of the labor of Scunthorpe steelworkers.”

Trade unions have been wary of publicly voicing misgivings about Oyak, for fear of disrupting negotiations that could save members jobs. But union sources said behind the scenes they were seeking assurances about Oyak, which also jointly owns a Turkish car plant where striking workers were allegedly mistreated. Union officials have written a report for local shop stewards outlining ties between Oyak’s leadership and the army, as well as to the Turkish president, Recep Tayyip Erdogan.

Union staff are also seeking assurances the Scunthorpe site will not be used to supply the Turkish military in future.

Source : The Guardian
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Vale Inks Strategic Project Agreement With China Baowu

Vale and China Baowu Iron and Steel Group Co Ltd signed strategic project agreements in Brazil on October 16 in the areas of iron and steel smelting, logistics and basic metals, in order to deepen and expand cooperation between the two sides. According to the agreement, the two sides will explore the potential for the continuation of strategic joint ventures and study strategic projects related to international basic metals. The two sides will also explore opportunities for cooperation in logistics and supply chains to effectively transport and receive the world's highest quality iron ore products.

Mr Chen Derong, chairman of China Baowu, said that “As a two-way strategic partner, China Baowu is speeding up the realization of the strategic goal of 100 million tonnes of Baowu.”

Source : Strategic Research Institute
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