According to Mr. Xu Lejiang, Chairman of the Baosteel Group that the company will withdraw part of its production capacity from Shanghai, following Shougang's relocation to Caifeidian in Hebei Province.
He added that at least 3 million tons of steel production capacity will be removed from Shanghai in the coming 10 years. The time and details of relocation is yet unknown.
Mr. Shen Yibing, an analyst of www.cnchemicals.com speculated that Baosteel is likely to move its stainless steel line to Fujian Province