Inner Mongolia BaoTou Steel Union (600010.SH): Report on the investigation of the 1.18 safety accident by the holding subsidiary has been released.

Inner Mongolia BaoTou Steel Union (600010.SH) announced that at 15:03 on January 18, 2026, an explosion occurred in a 650m3 saturated water and steam storage tank in the steelmaking operation department of its holding subsidiary's plate mill. On August 2, 2026, the Inner Mongolia Autonomous Region People's Government released the "Investigation Report on the Major Container Explosion Accident of Inner Mongolia Baotou Baogang Rare Earth Steel Plate Co., Ltd. on January 18." The investigation team determined that the direct cause of the accident was the long-term exposure of tank No. 1 to medium corrosion, local stress, and cyclic loading during operation, resulting in irreversible combined damage of "alkali stress corrosion cracking + corrosion fatigue" on the inner wall of the tank. The cumulative damage eventually penetrated the wall thickness, leading to saturated water leakage on the north side of the lower ring weld. Subsequently, no effective on-site measures were taken, and about 1.5 hours later, the pressure exceeded the limit load capacity of the defective container, causing a rapid circumferential tearing of the weld near the leak, resulting in the tank's rapid disintegration and the instant flash evaporation and explosion of a large volume of saturated water, causing significant casualties. The investigation team determined that this incident was a major production safety responsibility accident.