Baosteel to invest $700 million to build 'premium' seamless pipe base

The corporate board of Baoshan Iron & Steel Co., Ltd. (Baosteel), the listed arm of China Baowu Steel Group, has formally approved a proposal to establish a production base for “premium seamless pipes” in Ma’anshan city in East China’s Anhui province, according to the company’s latest release on August 27.

The vehicle for the project will be Baosteel's wholly owned subsidiary Baosteel Pipe Technology Co, a 75-25% joint venture established in May 2023 between Baosteel and Baotou Iron & Steel based in Inner Mongolia. At the time, the two had said they were "aiming to create a professional pilot