AI speeds up transforming China's steel industry with more successful cases

The use of artificial intelligence (AI) technology is accelerating the transformation of China's steel industry, making it smarter, greener, and more efficient.

Xingcheng Special Steel, an industry model manufacturer located in Jiangyin City, eastern China's Jiangsu Province, has begun using an AI-assisted detection system that can identify a 0.02-millimeter defect in a steel product within 0.1 seconds, the first in the industry worldwide.

"The furnace temperature prediction model independently developed by us can offer real-time data about temperature, pressure, composition, and air volume. Thanks to AI technology, the black boxes of blast furnaces have been 'transparent' for us. The '5G plus Industrial Internet' platform regulates thousands of processing parameters in real time, just like equipping the traditional steel factory with a thinking 'nervous system,'" said Wang Yongjian, deputy general manager of Jiangyin Xingcheng Special Steel Works company, operator of the light house factory.

In Shanghai, AI technology has enabled ZG Group, China's largest third-party steel trading platform, to handle over 10 million transaction messages daily, with the parsing accuracy rate exceeding 95 percent. It can also conduct intelligent matching of millions of traders and autonomously update over 20 million transaction messages daily.

In addition, the AI-assisted platform can simultaneously review the qualifications of 20,000 vehicles and monitor over 400,000 logistics trajectories.

"By using AI technology, the drivers' waiting time has decreased by 12 percent and carbon emissions have dropped by eight percent," said Gong Yingxin, senior vice president of ZG Group.

Currently, 29 steel enterprises across China have been designated as national intelligent manufacturing demonstration factories, with 18 recognized as outstanding such factories.

AI speeds up transforming China's steel industry with more successful cases

Hong Kong stocks rallied on Friday, as robust performance in the technology and real estate sectors offset weakness in energy and consumer staples, according to a market analyst.

The benchmark Hang Seng Index rose 0.52 percent to 24,186.83 points, while the Hang Seng Tech Index jumped 1.16 percent to 4,108.24 points. The Hang Seng China Enterprises Index edged up 0.31 percent to 8,128.25 points.

Despite the positive close, Timothy Pope, a market analyst at China Global Television Network (CGTN), noted that the market relinquished some of its early intraday momentum after briefly surging more than 1.3 percent.

"The Hang Seng closed 0.5 higher, although that was well down from its earlier gains of more than 1.3 percent. Real estate stocks did reasonably well in Hong Kong today, as they did on the Chinese mainland. But apart from that, the picture was a little different. Energy shares were down, along with some consumer staples. Consumer discretionary stocks, like sportswear makers Anta and Li-Ning, performed pretty well, as did the PC maker Lenovo. Innovative pharmaceutical companies were also finding favor with investors. BeOne Medicines gained more than 4 percent," said Pope.

Hong Kong stocks rally as tech, real estate offset energy, staples weakness: analyst