Hubei Province-based Chinese steelmaker Echeng Iron and Steel Co. (Echeng Steel), a subsidiary of Chinese steel giant Wuhan Iron and Steel (WISCO), has announced that its finished steel exports in 2011 reached 120,000 mt, exceeding the targeted volume of 100,000 mt. The finished steel exports of Echeng Steel in 2011 exceeded all its finished steel exports in the 50 years since the establishment of the company, indicating the increasing presence of Echeng Steel in the international market and its strengthened distribution channels.
Echeng Steel, the largest production base for construction steel and high-end steel plate in Hubei Province, has an annual steel output capacity of 3 million mt.
Meanwhile, Echeng Steel has also inked a strategic cooperation agreement with Chinese company Wuchang Shipbuilding Industry Co., according to local media sources.
Under the agreement, Echeng Steel will supply 150,000 mt of wide and heavy steel plate per year to Wuchang Shipbuilding Industry Co.