The CJV is a Q+T producer, it is connected directly to Shandong plant that is now owned by BAO Steel, it is not a different business, it is joined at the hip and managed by Shandong and now overseen by BAO Steel with a Bis Director sitting on the board,as far as German certification, this is not a blanket certification per company, it is done on a per grade basis, of which Bis has a few grades passed, but other higher quantity grades are yet to be passed IE Z grade, don't forget other manufacturers such as Salzgitter are now vying for the German grades and certification and looking at low carbon steel which is the flavor of the day, Thyssen Krupp are virtually out now. Hanwha builds dont require the German certification, so if volume is needed for Armour grade, best case is for Hanwha to win more Aust defense work.
BIS Price at posting:
$1.93 Sentiment: None Disclosure: Held
