Hebei Province-based Chinese steelmaker Hebei Iron and Steel Group has announced that in the first half of the current year its subsidiary Tangshan Iron and Steel Co. (Tangsteel) exported 1.4256 million mt of finished steel, creating an export value of $721.51 million.
The total finished steel product export volume included 680,000 mt of cold rolled products and 130,000 mt of long steel. Of the cold rolled products, the volume of annealed cold rolled steel products and galvanized cold rolled steel products amounted to 220,000 mt and 390,000 mt, increasing by 83,000 mt and 145,000 mt respectively, both year on year.In March this year, the company signed an agreement to acquire a 10 percent stake in Swiss-based Duferco International Trade Holding, the world's biggest steel trader, which will help it to further expand its presence in overseas markets.