Chinese steelmaker Hebei Iron and Steel Group is said to be considering increasing its 10 percent shareholding in Swiss-based Duferco International Trade Holding, the world's biggest steel trader, as SteelOrbis has heard. The exact amount of the shares to be purchased is expected to be announced soon.
As SteelOrbis previously reported, in March 2013 Tangshan Iron and Steel Co. (Tangsteel), a subsidiary of Hebei Iron and Steel Group, signed an agreement to acquire a 10 percent stake in Duferco, in a move aimed at further expanding Tangsteel's presence in overseas markets.