Posted on 02 Apr 2015
Some large Chinese steel mills are making new endeavors to upgrade product portfolio in response to the One Belt and One Road initiative, the elimination of inefficient capacities, and other favorable policies in China, Securities Daily reported.
With China’s rapid development of high-speed railway and overseas projects, Maanshan Iron & Steel Co., (Masteel) now focuses on wheels and axles for high-speed trains.
The company has got the approval of producing large-capacity locomotive wheels in mass orders from China Railway Test & Certification Centre (CRCC). Masteel also purchased SAS VALDUNES, mainly producing wheels, axles and wheelsets, to enhance its new efforts.
According to its 2014 financial report, production and sales of train wheels at the company both hit 188,000 tonnes, only after those of traditional products, such as plates, profiles and bars.
Other large steel mills in China, such as Panzhihua Steel Group, Anshan Iron & Steel, Baotou Iron & Steel, Wuhan Iron & Steel, also look for new opportunities from the rapid development of high-speed railways both home and abroad.
