China Gerui Advanced Materials Group Ltd, a Chinese maker of high-precision, cold-rolled strip steel has started work on production lines that will allow it to make 300kt/y more of its chief product.
The company will spend $60M to more than double the amount of the steel it can produce annually by the end of the year.
High-precision, cold-rolled strip steel is used in food and industrial packaging, cell phones, construction, communication cables, and household decorations, among other things.
Gerui makes more of that type of steel than any other company in China and commands about 12.5% of the market for the product.
Next is Hebei Dachang Jinming Accurate Cold-rolling Steel Plate Co Ltd.