Shanghai-based Baosteel has given hints in its latest six-year plan (spanning 2013 to 2018) that it intends to enter the aluminium industry, possibly in some kind of joint venture with Chinalco and with a view to making parts for the automotive industry.
According to a report in the latest edition of China Metals, the words ‘aluminium’ and ‘going global’ are key words for the Chinese steel producer, which claims that in times of low profitability within the steel industry, it is necessary for the company to seek co-operative arrangements on the production of automotive products.
The company says that ‘going global’ is crucial and that it aims to sell most of its products in overseas markets by 2018. What percentage of that will be aluminium is not known.
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