Shagang Group inks strategic agreement with Bekaert

Jiangsu Province-based Chinese steelmaker Shagang Group Co. (Shagang Group) has announced that it has signed a strategic cooperation agreement with Kortrijk, Belgium-based Bekaert Group, one of the world's largest steel cord and wire manufacturers, to increase export supplies of quality wire rod to Bekaert in Southeast Asia and America in 2014.
 
Shagang Group stated that, in terms of its exports, it is making efforts to open up emerging markets in Africa, Central Asia and Southeast Asia, while maintaining stable supplies to the European and American markets.
 
In 2013, Bekaert purchased 233,000 mt of hot rolled wire rod from Shagang Group, mainly for manufacture of steel cord and bead wire for tires. Shagang Group is currently the largest wire rod supplier for Bekaert in China.