December 9, held in Beijing, "Cooperation of Fujian Province and the Central Enterprise Project Fair", the Baosteel Group Co., Ltd. and Fujian Wu Steel Group Co., Ltd. signed a re-Nickel Industry Co., Ltd. Fujian Dresdner agreement. Informed sources, Baosteel will thus holding 70% of the nickel industry Dresdner stake to get its overseas nickel resources, further expansion of the field strength in the stainless steel. Intended to overseas resources Under the agreement, Baosteel plans to restructure Dresdner nickel industry as an opportunity to develop stainless steel Luoyuan Bay in Fujian career. Restructuring, Baosteel will combine their R & D, marketing, production, management strengths, take advantage of regional economic competitiveness advantages, RCM will be restructured to play the nickel industry caused the most competitive production base of green stainless steel industry. Public information, Dresdner Nickel has 92 tons of nickel alloy and an annual output of 820,000 tons of stainless steel hot-rolled strip, the second annual output of 25 million tons of nickel 15-40 alloy of nickel, 400,000 tons cold-rolled stainless steel and 200 million tons nickel alloy hot-rolled sheet production line is currently under construction stage. The company said that Phase II has entered the land acquisition phase. The Baoshan Iron and Steel does not seem to fancy Dresdner mere 920,000 tons of nickel industry in the production of nickel alloys. In the "Fujian Dresdner nickel alloy Nickel Industry Co., Ltd. second phase of project environmental impact report" shows that the company is the use of neighboring countries (Indonesia, Myanmar, the Philippines, New Caledonia)-rich resources to develop nickel laterite production. Currently, the company has good strength Shi Philippines nickel mine Limited 40% stake in the company's largest shareholder, the company's reserves of nickel mine about 1.5 million tons. In 2007, when he was Wu Hang Stainless Steel Products Co., Ltd. Fujian Vice President Chen Hangjun also, announced that in addition Desheng Nickel Nickel has good power official, the company also has joint ventures in Indonesia Wei Gu Island nickel project built, and has in Indonesia to expand nickel, chromium ore production. "Baosteel is the fancy of our resources." Desheng Nickel industry insiders to the China Securities News, said the company has abundant reserves of nickel and mineral resources, not only to supply our own use, even after controlling for Baosteel to supply Baosteel stainless steel factory. Baosteel short board meeting "Baosteel not have the advantage in the field of stainless steel." Said a steel industry, due to cost control problems, Baosteel and TISCO stainless steel products (000 825) is always less competitive. "Baosteel's stainless steel product pricing is too high, TISCO, although a higher offer, but offer discounts to dealers is very objective, the same quality of product, the cost is stuck atop Baosteel." The size of the stainless steel business reflects Baosteel downwind areas in the situation of stainless steel. Baoshan Iron & Steel (600019) 2009 annual report, the annual product sales of 1.262 million tons of stainless steel, and stainless steel products of the national total output of close to 1,000 tons, TISCO stainless year, compared with 2,479,700 tons of stainless steel production. Stainless steel business of the companies the difference is also reflected in the stainless steel products, gross margin, the two companies have announced mid-year report of stainless steel products, gross margin, TISCO stainless steel stainless steel in the first half of the gross profit margin was 9.86%, and Baoshan Iron and Steel stainless steel coils only 0.57% of gross profit margins. Baosteel will now Desheng Nickel into her arms, there will be relying on the company's nickel resources to address the long plagued the field of its stainless steel business costs.

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