Jiangsu Shagang Group Company Limited, Jiangsu Shagang Group, Shagang Group or Shasteel is located in Zhangjiagang

Zhangjiagang

Zhangjiagang is a county-level city in Jiangsu province, China, and is an administrative division of Suzhou City. Zhangjiagang's population is around 1,300,000, with around 2000000residents of the city proper ....

, Jiangsu

Jiangsu

' is a province of the People's Republic of China, located along the east coast of the country. The name comes from jiang, short for the city of Jiangning , and su, for the city of Suzhou. The abbreviation for this province is "苏" , the second character of its name...

, China

People's Republic of China

China , officially the People's Republic of China , is the most populous country in the world, with over 1.3 billion citizens. Located in East Asia, the country covers approximately 9.6 million square kilometres...

, an Economic Development Zone of the Yangtze River

Yangtze River

The Yangtze, Yangzi or Cháng Jiāng is the longest river in Asia, and the third-longest in the world. It flows for from the glaciers on the Tibetan Plateau in Qinghai eastward across southwest, central and eastern China before emptying into the East China Sea at Shanghai. It is also one of the...

. It is the largest steel

Steel

Steel is an alloy that consists mostly of iron and has a carbon content between 0.2% and 2.1% by weight, depending on the grade. Carbon is the most common alloying material for iron, but various other alloying elements are used, such as manganese, chromium, vanadium, and tungsten...

 manufacturing

Manufacturing

Manufacturing is the use of machines, tools and labor to produce goods for use or sale. The term may refer to a range of human activity, from handicraft to high tech, but is most commonly applied to industrial production, in which raw materials are transformed into finished goods on a large scale...

 privately-owned company in China. It involves the production

Production, costs, and pricing

The following outline is provided as an overview of and topical guide to industrial organization:Industrial organization – describes the behavior of firms in the marketplace with regard to production, pricing, employment and other decisions...

 and sales

Sales

A sale is the act of selling a product or service in return for money or other compensation. It is an act of completion of a commercial activity....

 of "Shagang" brand name steel products.

History

Formerly "Jiangsu Shagang Group Company Limited", it was established in 1975 with self-financing of only $450,000 Yuan

Renminbi

The Renminbi is the official currency of the People's Republic of China . Renminbi is legal tender in mainland China, but not in Hong Kong or Macau. It is issued by the People's Bank of China, the monetary authority of the PRC...

. At the end of 2007, it employs over 26,700 staff, covers an area of 10 km², and has total assets over RMB100 billion Yuan.

Business

Iron

Iron

Iron is a chemical element with the symbol Fe and atomic number 26. It is a metal in the first transition series. It is the most common element forming the planet Earth as a whole, forming much of Earth's outer and inner core. It is the fourth most common element in the Earth's crust...

 and steel

Steel

Steel is an alloy that consists mostly of iron and has a carbon content between 0.2% and 2.1% by weight, depending on the grade. Carbon is the most common alloying material for iron, but various other alloying elements are used, such as manganese, chromium, vanadium, and tungsten...

 are girding China's economic development

Economic development

Economic development generally refers to the sustained, concerted actions of policymakers and communities that promote the standard of living and economic health of a specific area...

, and Jiangsu Shagang is big part of that process. The company processes some 18 million tons of iron annually in order to roll out about 23 million tons of steel each year, making it one of China's top-five steel producers. Jiangsu Shagang's product line includes rebar

Rebar

A rebar , also known as reinforcing steel, reinforcement steel, rerod, or a deformed bar, is a common steel bar, and is commonly used as a tensioning device in reinforced concrete and reinforced masonry structures holding the concrete in compression...

, wire rods, slab

Slab

-Physical materials:* Slab , a length of metal* Concrete slab, a flat plate used in construction* A piece of stone or concrete used to pave sidewalks or road surfaces* Slab : That portion of a tectonic plate that is subducting...

s, and hot-rolled coils. In addition to iron and steel, Jiangsu Shagang produces stainless steel

Stainless steel

In metallurgy, stainless steel, also known as inox steel or inox from French "inoxydable", is defined as a steel alloy with a minimum of 10.5 or 11% chromium content by mass....

 and zinc-plated steel sheets. Since 2006, the company has acquired four smaller, rival steel companies, and it now ranks as China's largest private

Privately held company

A privately held company or close corporation is a business company owned either by non-governmental organizations or by a relatively small number of shareholders or company members which does not offer or trade its company stock to the general public on the stock market exchanges, but rather the...

steel producer.