Russia-based steelmaker Amurstal has announced that it has shipped its one millionth mt of steel billet to South Korea-based POSCO International, the trading arm of South Korean steelmaker POSCO, for further export to countries in East and Southeast Asia.
A supply memorandum between the companies was signed in June 2018. The partnership provides Amurstal guaranteed sales of a significant part of its products, and the measures taken over the past two years to develop the plant will increase its volume of production to 1.2 million mt of steel.
The company’s exports to the countries of East, Southeast and South Asia account for 60 percent of its plant’s sales, while 40 percent goes to the domestic market.
