ArcelorMittal and China Oriental are to produce electrical steel in China
ArcelorMittal Jinxi New Materials, a joint venture between ArcelorMittal and China Oriental Group, has officially launched its joint brand of electrical steel, AMORNEX, in Changzhou (Jiangsu Province), according to a report by BigMint.
The total investment under this project amounts to approximately 5 billion yuan (over $745 million); it is considered one of the largest individual foreign investment deals in Changzhou.
The project comprises a raw materials production base in Tanshan (Hebei Province) and a processing and operations base in Changzhou.
The total production capacity of the facility in Changzhou will be 1.8 million tonnes of high-quality electrical steel sheets.
As part of the first phase of the project, a production line for high-performance non-oriented electrical steel (NOGO) with an annual capacity of 500,000 tonnes is being built – commercial commissioning is expected in June 2027. The products are intended primarily for a wide range of environmentally friendly, high value-added industries, including drive motors for new energy vehicles (NEVs), high-efficiency industrial motors and smart household appliances.
Construction of the new production complex has moved on to the equipment installation phase. At the same time, infrastructure such as a dedicated 220 kV substation and an electricity distribution system is being built.
It should be noted that in April this year, ArcelorMittal launched a new phase of its electrical steel project in France. The production of the first coil on the new lines at Mardic brings the group closer to tripling its capacity in Europe.
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Steel Export Market Prices
| Material | Price | Change |
|---|---|---|
| Stainless Seamless Pipe 304 108*4 mm | $ 2196.65 | 11.34 |
| Stainless Scrap 304 Solid | $ 1296.97 | -12.95 |
| Stainless Bar 321 60 mm | $ 2197.04 | -13.10 |
| Stainless Bar 304 60 mm | $ 1956.28 | -13.25 |
| Stainless HR Coil 304/No.1 6.0 mm | $ 1902.08 | -9.39 |