SteelOrbis Shanghai
On December 14, Chinese steelmaker Wuhan Iron and Steel Group formally opened its new representative office in Canada, as part of its plans to expand further into the North American market.
Wuhan Iron and Steel Group has been increasingly focusing on foreign trade in recent years, establishing eight branch companies and two representative offices abroad. The new Canadian office is Wuhan Steel's second subsidiary in North America, and will mainly focus on exploitation and trade of minerals such as coal and iron ore.
As of November this year, Wuhan Steel has exported 1.29 million mt of finished steel products, with a total value of $1.12 billion, rising by 15 percent year on year. Total exports for the whole year are expected to reach $1.17 billion, up 72 percent compared to last year.