For many, 2020 will be remembered as the most difficult year, but not for China Baowu Steel Group. On the contrary, this year will be considered an outstanding and momentous one for a leading Chinese steelmaker as it officially and solemnly celebrated the achievement of the 100 million tonne steel milestone for the entire year by December 23, or eight days before the start of the year. ends. Reaching the mark of its formal and undeniable Ascension of Shanghai steel headquarters as the world’s largest steel producer ArcelorMittal over.
At 100 million tonnes, Baowu alone produces more steel than most countries in the world. This year, the steel plant’s output will be even higher than that of the second and third largest steel-producing countries, India and Japan.
A major milestone in Baowu’s history also served as a concrete example of what China has achieved in increasing concentration in its steel industry, even though it failed to reach the target of the country’s top ten steel mills, accounting for 60% of total steel production by the end of its period. … 13th five-year plan (2016-2020).
The celebration of Baowu’s 100 million tonnes seemed to be long overdue, as the company held a grand concert to celebrate the event on the same night of December 23, sharing a live video of the smelting of its 100 millionth ton of steel. The # 1 300-ton converter in Shanghai, the emblematic site that produced the first steel furnace for the Baosteel Group in September 1985, when the company began operations, according to a report from Baowu.
Baowu was formed through the merger of Baosteel Group and Wuhan Iron & Steel Group in December 2016.
The question now is what Baowu or China intend to achieve in the next ten years in terms of steelmaking. The country is nearly 99% self-sufficient in steel supplies, but it is by no means carbon neutral, despite the fact that six steel mills by the end of December met the central government’s stringent “ultra-low emissions” standards.
World interest in China’s steel market has rekindled again, with speculation that scrap will become the second “iron ore”, with China’s steel production likely to remain strong, but with a greater focus on sustainability.