Steel plans to invest 512 million yuan in a new large-square billet continuous casting project.
Nov 04,2025
On the evening of October 27, 2025, Iron & Steel (000932) announced that, in order to further advance the company’s strategy of upgrading its product portfolio and better meet market and customer demands, as well as enhance the quality of its bar products and expand their product specifications, the company’s subsidiary, Hunan Iron & Steel Co., Ltd.’s Steelmaking Plant, plans to build a new large-square-billet continuous casting machine project. The project will require an investment of 512 million yuan, with a construction period of 15 months, funded entirely by the company’s own capital. In its announcement, Iron & Steel noted that the current market for ordinary steel products remains characterized by supply-demand imbalances, while demand for specialized steel materials—used in major global projects and industrial applications—remains robust and offers significant added value. Currently, the billets supplied by Xianggang’s existing continuous casting machines can no longer meet the needs of its bar production, and the quality of these billets also limits the company’s ability to further improve bar product quality and broaden its product range. Additionally, the existing continuous casting machine is located at a considerable distance from the bar rolling line, leading to long billet transportation routes and high energy consumption. Once this project comes into operation, it will help Xianggang elevate the quality of its bar products, optimize the structure of its wire and bar product lines, and strengthen the company’s overall competitiveness. Meanwhile, the company’s Q3 report disclosed on the same day revealed that, during the first three quarters of the year, Iron & Steel achieved operating revenue of 94.598 billion yuan, total profits of 4.229 billion yuan, and net profit attributable to shareholders of the listed company amounting to 2.510 billion yuan—a year-on-year increase of 41.72%.
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