Securities Times reported that Baoshan Iron & Steel Co Ltd witnessed a nice growth in automobile steel sheet selling in the first four months of this year on boom of the downstream industry with sales volume of CR auto sheet reaching over 1.55 million tonnes accounting for 40% of the annual target.
Bolstered by the stimulus policies, China auto steel industry kept growing fast this year with sales in March alone topping 1.7 million vehicles hitting new high in recent years. The auto steel demand is thus boosted, pushing steelmakers to expanding production accordingly amid tight availability.
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