JFE Steel Corp and an affiliate of China's largest steelmaker Baowu Steel is setting up a joint venture to tap into demand for high-grade special steel bar from the Chinese automotive sector.
The move will see JFE Steel take a 50% share in Baosteel Special Steel Shaoguan Co, while the latter's existing parent Guangdong Shaoguan Iron & Steel Songshan Co (SGIS) will hold the other half of the stake, according to...