Recently, Jiangsu Province-based Chinese steelmaker Shagang Group has announcced that it has inked a strategic wire rod supply agreement with Belgium-based Bekaert Group. Accordingly, Shagang Group will increase supply of wire rod to Bekaert Group by around 15 percent in the year of 2016 compared to 2015.
Bekaert Group is a leading company specializing in steel wire transformation and coating technologies. Shagang Group which is the largest wire rod supplier for Bekaert Group in China has been in cooperation with Bekaert Group since 2002. In the January-November period of the current year, Shagang Group supplied 408,000 mt of wire rod to Bekaert Group.