Sichuan-based Chinese steelmaker Pangang Group has announced that its subsidiary Pangang Group International Economic & Trading Co. (PIETC) sold 1.4004 million mt of finished steel products in the first quarter this year, including 497,100 mt of special steel products. Pangang Group stated that PIETC achieved this sales volume even though the iron and steel industry has been facing adverse factors such as overcapacity, severe competition and high costs.
Meanwhile, in the first quarter the finished steel sales volume of the Liuzhou division of PIETC totaled 32,700 mt, up seven percent year on year, including 29,700 mt of special steel products.