Citic Pacific dispatched to one steel plant in December last year the first iron ore, compared to the original plan has delayed more than three years,SMLS Pipe A-106 Gr.B As per ASME B36.10M cost nearly four times that of the original plan, so far its six annual output of 4 million tons of production line is only one in operation.
Contrast is that the delay in the project of three years, Australia's three biggest producer of iron ore production capacity will be expanded more than 190 million tons.Zhang said very well,long radius butt weld 90 degree elbow the progress of the project and the case got the attention of other Chinese companies, these Chinese companies are considering investing in Australia, including western Australia other magnetite project.
Citic Pacific's share price slumped to a four-year low in June last year to hk $7.90, but when the first iron ore the company shipment in December,carbon steel pipe fitting hot formed bend shares jumped to hk $12.28, or 55%.Seven months later due to iron ore prices fell to lows, the stock fell to hk $9.47.
