Recently, Baosteel Stainless Steel Corporation has announced that Baosteel's stainless steel will not to close the headquarter in Shanghai, by moving to Fujian.

Baosteel will not be closed its Shanghai stainless steel production, but will only close of 2 million tons of carbon steel production capacity.

Baosteel expects to improve financial structure and other measures to overcome the difficulties, while steel market demand remains weak.