Japan’s JFE Steel partners with China’s largest steelmaker to produce metal powder in China
March 26, 2017
JFE Steel, headquartered in Tokyo, Japan, will partner with China’s Baosteel Metal to produce metal powder in China, reports Nikkei Asian Review. JFE Steel, a unit of JFE Holdings, is reported to be the first Japanese steelmaker to bring expertise on the production of high-value-added iron powder to China.
The announcement follows the formation of a 50-50 venture with Baosteel Metal, Shanghai, China, a subsidiary of Chinese industry leader Baowu Steel Group. Beginning in 2018, the joint venture will manufacture premixed iron powders uniformly coated with copper and nickel alloys.
An investment of approximately 109 million yuan ($15.7 million) will be used to construct a Shanghai factory, equipped with the technology to mix alloyed metals with externally procured iron powder.