Hebei-based Chinese steel producer Chengde Steel (Chenggang) has signed a long-term export agreement for the supply of hot rolled coils to South Korean-based international trading company Daewoo International Corporation.
Chenggang commenced its cooperation with Daewoo International Corp. in 2009, resulting in an expansion of the overseas markets for Chenggang's products. The latest agreement is expected to strengthen the cooperation between the two parties. According to the deal, Daewoo International Corp. pledges to sell no less than 15,000 mt of Chenggang production hot rolled coil per quarter and no less than 100,000 mt per year.