HBIS, POSCO to Boost Steel Supply to China's Automobile Market

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Researched by Industrial Info Resources (Sugar Land, Texas)--HBIS Group (Shijiazhuang, China) is setting up a joint venture with POSCO (NYSE:PKX) (Pohang-si, South Korea) to build a plant in Leting (Laoting) County of Tangshan, in China's Hebei province. HBIS and POSCO are leading players in the global steel industry.

The plant is currently slated to be built between from February 2022 and the end of 2023. It is designed to produce 900,000 tons per year of high-end, cold-rolled galvanized steel sheets for automobiles. Subscribers to Industrial Info's Global Market Intelligence (GMI) Metals & Minerals Project Database can click here for more details.

Industrial Info is tracking more than 450 steel-manufacturing projects across China, totaling more than $141 billion of investment value. Subscribers can click here for a list of related projects.

HBIS is the second-largest steel supplier for China's automotive sector, having produced 7 million tons of steel in 2020.

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