Baogang Group exceeds $100 million in Q1 overseas sales

Wednesday, 18 April 2007 10:39:42 (GMT+3)   |  
       

SteelOrbis Şangay

In the first three months of 2007, Baotou Iron & Steel Group (Baogang Group) reached $132 million for overseas sales of its steel and non-steel products, up $61 million or 87 percent year on year. During the first quarter of this year, Baogang's production of HR coils, high speed wire rod and other steel products all kept rising steadily. Meanwhile, the producer's exports for March saw a considerable increase compared to January and February levels. For instance, steel rail exports made a historical breakthrough in Q1 2007, with the total export volume reaching 10,258 mt. In addition, Baogang's exports of non-steel products also soared by a big margin, with overseas sales standing at $1.87 million, a year-on-year increase of 203 percent.

Located in the Inner Mongolia Autonomous Region, Baogang Group is not only one of the leading Chinese mills, but also has the largest rare earth industrial base in China. The producer's 2006 output included 7.38 million mt of iron, 7.48 million mt of crude steel, and 6.95 million mt of finished steel. The mill currently has a production capacity for pig iron of 10 million mt, and expects to reach a capacity of 10 million mt for crude steel and finished steel soon. Baogang can produce 56 varieties and 6,573 specifications of steel products, such as cold rolled sheet, hot rolled sheet, seamless tube, heavy rail and so on.

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