A China Tsingshan Holding Group statement reported that the Group has started work on construction of a cold-rolling line, which will be one of the largest stainless steel projects in India when completed, the company said. The products from the new integrated stainless steel mill in Gujarat will be marketed across the country and the rest of Asia to meet growing demand, Metal Bulletin said in a report.
The company has announced that the facility will reportedly have crude stainless steel capacity of 2 million tonnes per year while the CRC line will have capacity of 600,000 tonne per year. The plant will sell mainly 304-series hot-rolled flat products as well as cold-rolled products to markets in East and South East Asia which are also the main markets for Tsingshan’s Indonesian steel operations.
Higher nickel prices suspensions and closures of Chinese operations on environmental grounds and strong demand from Asia, Europe and North America have been the drivers of the stainless steel market over the past five months, the report added. The group mainly produces stainless steel ingots, steel bars, plates, wires and seamless tubes, which are widely applied in many fields.
A new integrated stainless steel mill in India is likely to target output to that country and the rest of Asia to meet growing demand there.
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