Baosteel ramps up smart, green output

Baoshan Iron and Steel Co Ltd, or Baosteel, China's leading steel manufacturer, is optimistic about its financial performance this year, and will double down on its "high-end, smart, and green" strategy to cater to rising demand from electric vehicle manufacturers, a senior executive said.

Bao Ping, chief engineer of Automotive Steel Plate Technical Services at the Shanghai-based company, said despite the domestic steel industry's weak performance since the latter half of 2022, Baosteel has maintained its position at the top in terms of total profit and outperformed its competitors last year.

The sector has been struggling with low downstream demand and supply pressures.