OREANDA-NEWS. May 16, 2012. Ministry of Industry and Information Technology has announced the first batch of industrial circular economy major demonstration projects. Baosteel Development Corporation's Shanghai Baosteel Magnetic Co., Ltd. is on the list, the only company within domestic steel industry and Shanghai industrial enterprises. This shows that Baosteel goes in the forefront of the domestic resource recycling field, reported the press-centre of Baosteel.  

Last year, Ministry of Industry and Information Technology organized the assessment and feasibility studies of industrial circular economy major demonstration projects and identified the first batch of 23 industrial environmental economic major demonstration projects. This is aimed at promoting circular economy development in the industrial field and accelerating the formation of resource recycling industry model.

For a long time, Baosteel insists on implementing the scientific development concept. With environmental management as the main line, it adheres to technological innovation and promotes renewable resource comprehensive utilization industrialization development.Baosteel Magnetic is committed to the utilization of iron oxide red, iron oxide scales and zinc residue on the magnetic material, which is an important part of Baosteel circular economy development. Over the years, Baosteel Magnetic has built a number of ferrite material powder and magnetic core production lines. In recent years, Baosteel Magnetic keeps up with the pace of energy saving technology and industrial development, continues to increase research investment, forms three main products: iron oxide red, soft ferrite material powder and magnetic core with independent intellectual property rights.

The products are widely used in computer, communication, green lighting, anti-electromagnetic interference, high-definition display and automotive electronics fields and the market share ranks No.1 compared with domestic similar products. The products are exported to Europe, the United States, Japan and Korea. In 2010 "ultra-pure iron oxide industrilization research" is included in the Group Corporation key supporting projects. After one year of hard work, scientific research and development has achieved a major breakthrough. Product technical performance reaches similar imported product index and it becomes the ideal material for phosphate acid iron lithium battery.

In recent years, Baosteel Magnetic has been ranked as Shanghai high-tech enterprise, Shanghai Science and Technology little giant nurturing enterprise, Shanghai famous trademark enterprise, ferrite material powder industry standard drafting unit, ferrite iron oxide national standards drafting member unit and is set up as national ferrite material powder production base by the magnetic material industry.

In accordance with the strategic objectives of building a world-class magnetic material manufacturing and service center, Baosteel Development Corporation optimizes the industrial layout, speeds up the "iron oxide red comprehensive utilization industrialization business plan" project landing, further expands the high-performance soft ferrite material powder and magnetic core production size and grade.

At present, Baosteel iron oxide red resource utilization industrialization (Haimen) project is stepping up its construction and is about to be put into trial production. After the Haimen project 1st phase construction is completed, Baosteel Magnetic will form 40,000 ton soft magnetic material powder annual output capacity, become the domestic leading magnetic material production base and provide support for the steel industry in dealing with solid waste resources and developing circular economy.