On January 8, Hebei Province-based Chinese steelmaker Hebei Iron and Steel Group Co.announced that in 2013 its subsidiary Tangshan Iron and Steel Co.(Tangsteel) exported 3.0744 million mt of steel products, nearly double on year-on-year basis, with the sales revenues from the exported products exceeding revenues from domestic sales by RMB 100 million ($16.4million).
In March 2013, Tangsteel signed an agreement worth $1.2 billion with Switzerland-based Duferco International Trade, the world's largest steel trader, with the aim of boosting sales of its products overseas. Tangsteel now exports cold rolled products, hot rolled products, long steel products and plates. In 2013, Tangsteel exported 1.3488 million mt of cold rolled steel products, up 16.1 percent, 960,600 mt of hot rolled products, up 377.96 percent, and 665,900 mt of long steel products, up 1,088.93 percent, all year on year.
Also in 2013, Tangsteel successfully commenced exports to the African and US markets, with its export volumes to the two markets in question accounting for 30 percent of its total exports in the given year. Currently, the US imports around 19,000 mt of wire rod from Tangsteel every month, equivalent to over 40 percent of total US wire rod imports.