Posted on 18 May 2021
ABSTRACT
China Baowu Steel Group (Baowu), the top steel mill in China as well as in the world, now is also the largest grain oriented electrical steel producer globally, with the domestic market share at 60% and global market share at 33% in 2020, the company shared on May 14 via its WeChat account.
Baowu publicized the information at its grain oriented electrical steel promotional event on May 13 in Liyang, East China’s Jiangsu Province, and it formally introduced another seven high-end electrical steel products to its long-term power grid customers and transformer manufacturers on the occasion.
China’s commitment to carbon emission peak by 2030 and carbon neutral by 2060 has also provided Baowu the opportunity to further intensify its development in electrical steel, Zou Jixin, chairman of Baowu’s listed arm – Baoshan Iron & Steel Ltd, shared at the event.
Electrical steel, a core high-end steel product to Baowu as well as being essential for a country’s national grid evolution towards cleaner energy in the coming years by reducing power loss during the electricity transmission via high-voltage transformer stations, Baowu shared in its WeChat posts.
Baowu nowadays can fully satisfy the domestic needs for various grades of grain oriented electric steel, substituting all the imports by having developed 12 new grades of such steel since 2015, and it is capable of producing all kinds of existing grain oriented electrical steel products in the world.
In 2020, Baosteel produced 45.6 million tonnes of finished steel including hot-rolled, cold-rolled, tubes and pipes, and long steel products, which was down 2.7% on year, according to its annual report. It did not release the actual production of electrical steel, though it shared that it is capable of producing grain oriented electrical steel with silicon content steady at about 3%, with the thickness including 0.2mm, 0.23mm, 0.27mm, 0.3mm and 0.35mm.
Source: Baowu WeChat account
Source:Mysteel Global
