China’s Baosteel in discussions on steel investments from Asia to Africa

Beijing is also facing anti-dumping duties from a number of countries as they seek to keep out cheaper Chinese supplies after domestic use declined due to a prolonged property slump

Published Mon, Sep 1, 2025 · 02:01 PM

China’s Baoshan Iron & Steel is in discussions with several potential partners about investing in steel projects, with the primary focus on Asia, the Middle East and North Africa.

The nation’s top steel producer, known as Baosteel, is “actively considering” overseas investment targets, according to a statement on Friday (Aug 29). The remarks were made at the company’s briefing for its first-half results, which was attended by executives, including chairman Zou Jixin.

Baosteel is seeking to invest in operations outside of China to better compete on the global stage, and has made an investment in a steel plate venture in Saudi Arabia. On Friday, the company said that the project had a planned production capacity of 2.5 million tonnes and an initial budget of US$4 billion.

“As our internationalisation strategy deepens and industry trends continue to evolve, establishing regional or full-process production lines overseas will become inevitable and a necessary step,” Baosteel said.

China is also facing anti-dumping duties from a number of countries as they seek to keep out cheaper Chinese supplies after domestic use declined due to a prolonged property slump.

Last week, Baosteel announced a 7 per cent increase in net income in the first half, a positive boost against the backdrop of oversupply and long-term doubts over future steel demand in the country. BLOOMBERG

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