Tangshan Iron and Steel Group Co programs to further expand its abroad businesses and manufacture more metal products for automobile use within its efforts to counter the slump in the Chinese steel industry. 41 million) for the first 10 weeks, at a time when the majority of the other major Chinese steel companies reported deficits triggered by shrinking demand and higher fresh materials prices.
Sun Junxue, a worker at Tangsteel’s corporate and business culture department. Of November By the finish, Tangsteel’s steel product exports acquired increased to 1.4 million tons covering more than 150 locations and countries, regarding to company data. The business’s exports of cold-rolled bed linens, which are used for automobile manufacturing, reached more than 1 million tons during the first eleven months.
The export of hot-rolled bed linens, long medium and products and heavy plates, all of which are for car use, totaled more than 300,000 lots during the same period. She said besides the abroad marketplaces in the Middle East and Indonesia, the company has also entered the European and American metal marketplaces and also in developed countries such as Germany and Italy. Headquartered in Tangshan, Hebei province in North China, Tangsteel is a Chinese metal company with 70 years of history.
270 million organized metal prepayment loan from six international banks led by Deutsche Bank. 270 million of its steel exports to global metal producer Duferco, the main working trade subsidiary of Duferco International Trading Holding SA, a global metal trading company located in Luxembourg. Duferco is both exclusive off-taker of steel products exported under this prepayment arrangement and a 10-percent risk guarantor. Yu Yong, general manager of Hebei Steel and Iron Group. The business’s steel output in 2012 was about 16 million tons. The metal products for vehicle use accounted for an extremely small portion of the total result.
The drop in Japanese car sales because of the recent political disputes has not affected Tangsteel, as Japan is not just a major export market for the business, said company officials. Tangsteel’s overseas focus does not just end with buying expensive high-end manufacturing equipment and creation lines, said Yu of Hebei Iron and Steel Group. Sun at the organization culture department of Tangsteel. China’s metal creation capacity has recently much exceeded demand, creating a glut thereby.
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The government has been encouraging the industry to are more focused through integration. Domestic metal companies have been making efforts to survive competition and bolster their weak economic performance by reducing raw materials costs and producing high value-added products. Some companies have also enhanced their upstream businesses by acquiring abroad mining resources in order to reduce iron ore costs. However, most of them did not taste success credited to factors such as political risks, unforeseen higher exploration costs, management absence and shortages of operational experience in international countries.
Tangsteel, however, opt for different route by making better both its services, especially in its marketing strategies. Yang Bianjiang, a technician at the business. It doesn’t matter how advanced our company’s facilities are. But it does matter who’s with them, said Yu. He feels that in such a gloomy economic situation market competition isn’t just between steel products, but also in the manner companies do their business. The business has sent about 100 technicians to the marketplace to improve its services for potential buyers.