In the first half of 2010, Chinese steel producer Hebei Iron and Steel Group (Hebei Steel) contracted export orders totaling 900,100 mt of steel, up 1,185 percent year on year. During the period in question, the company exported 763,900 mt of steel, up 706 percent year on year, generating an export value of $469 million, up 313 percent year on year.
During the period in question, Hebei Steel has been seeking to cooperate with renowned international companies and to sign long-term cooperation agreements with them so as to expand its export channels. Meanwhile, Hebei Steel has also been expanding its product ranges in order to increase its export opportunities.
However, the company's export business has lately been encountering new challenges due to the difficult situation in the steel markets at home and abroad and due to policy measures introduced by the Chinese government such as the cancellation of the export rebate on certain steel products effective as of July 15.