On February 21, Liaoning Province-based Chinese steelmaker Benxi Iron and Steel Co. (Benxi Steel) announced that in 2013 the sales volume of high value-added steel products of its subsidiary Bengang Posco Cold-rolling Light Plate Co. (Bengang Posco) hit a record high. Accordingly, in 2013 Bengang Posco sold 822,000 mt of automotive sheet and 531,200 mt of sheet for application in home appliances, up by 24.4 percent and 6.47 percent year on year, respectively.
Bengang Posco stated that it focused on broadening its sales channels and developing its marketing despite the many negative factors which existed last year, including the ongoing sluggishness in the iron and steel market and the slowdown in the automotive and home appliance sectors. South Korean steel giant POSCO holds a 25 percent stake in Bengang Posco.