Raising Overall Competitiveness

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“We are the biggest, and I certainly think we are the best special steel producer in China. But this is not enough. We want to be the best in the world.”

Enhancing our product mix, raising product quality

CITIC Pacific Special Steel’s technical centres, laboratories and post-doctoral research centres are tasked with developing new products as well as offering consultation services to clients on special steel applications. In addition, continuous improvement in production management and quality control enables us to maintain our leading position in the market. In 2013, we produced 800,000 tonnes of new products, about 11% of the year’s total production.

Speeding up the certification process

For special steel products to be recognised and accepted by the market, certification by customers and relevant agencies is essential. This is a stringent and timeconsuming process. Certification not only means that products have met customers requirements but provides confidence among existing and potential customers. In 2013, we received 493 certifications from various customers and agencies as well as approvals and certifications from companies such as China Petrol, Sinopec and CNOOC for our new plate products, a noteworthy achievement.

Benchmarking against leading global steel companies

We have a leading position in the domestic market, yet benchmarked against some of the best global steel companies we see that there is still a lot work to do. For example, profitability on our new plate products is at a relatively low level. The amount of capital and resources devoted to product research and development is also below leading global steel companies. In order to become competitive at a global level, we have put in place clear strategies aimed at improving our research and application capabilities and increasing production efficiency.

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