Major Chinese steelmaker Baosteel announced that it will tear down low and medium-grade non-grain oriented silicon steel production line No. 1 and will build new production line No. 6 for high-grade non-grain oriented silicon steel and supporting public facilities in Shanghai. Overall investments will be at RMB 2.4 billion ($0.34 billion). The company will start construction in December of 2019, run hot trial in December of 2021 and complete the whole project in June of 2023.
China's demand for steel for new energy vehicle drive motors amounted to nearly 100,000 mt in the year of 2018, and will exceed 100,000 mt in 2019, while will exceed 400,000 mt in 2025, according to related data.
The new production line will be equipped with 100 percent automation and intelligentization, Baosteel stated.
Baosteel can produce 2.8 million mt of non-grain oriented silicon steel per year, including 400,000 mt of high-grade non-grain oriented silicon steel.