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Days ago, Baosteel signed a technical supply agreement with Nedschroef, the world's top automotive fastener maker based in Netherlands. High strength and cold forged steel supplied by Baosteel will be made into high end automotive fasteners. This is the first time for Boasteel  to tap into the supply chain for automotive fastener makers and start supply.

Cold forged steel that is processed into fasteners and connectors is widely applied in automobile and construction machinery industry, and can provide with stable function on applied components to ensure safety. Baosteel is the only company in China whose cold forged steel acquires the certification of GM, Volkswagen, and Nissan. Its steel can apply to automotive security fasteners.

Nedschroef has over a hundred years of manufacturing history. Its product quality and capacity are in the top line of steel industry. It is particularly stringent in qualifying steel suppliers. Attracted by the vast Chinese car market, Nedschroef headed for Kunshan City of Jiangsu in China for the first time last year.

As Baosteel enters the largest supply chain for the world's top automotive fastener maker, it opens up the door to high end automotive fastener market. This will largely expand Baosteel's automotive fastener market share, and help foster comprehensive localization of automotive fasteners.