XISCO's 9-month export revenue hits $164 million

XISCO’s 9-month export revenue hits $164 million

Xiangtan Iron and Steel Group Company (XISCO) took advantage of the upward trend in the international steel market to increase its third-quarter export volume. XISCO has regular customers in Hong Kong, South Korea, Japan, Southeast Asia, Europe and the Americas. Its exports to Southeast Asia account for 20 percent of the company's export volume. During the first nine months of this year, XISCO exported 386'200 tons of steel with total value of $164 million. XISCO's total steel export volume in 2005 is expected to reach 500'000 tons, half of which will be comprised of products with high added value. XISCO's export volume in 2004 was 600'000 tons with a total value of $260 million. XISCO was founded in 1958 and is located in the city of Xiangtan in the Yuetang district of Hunan Province. The company mainly produces high speed wire rod, square billet, round billet, round bar and rebar. In 2004, it produced 3.35 million tons of crude steel, 3.5 million tons of pig iron, and 3.15 million tons of steel products. Its total sales revenue in 2004 was RMB 9.5 billion ($1.17 billion), ranking it 36th domestically. SteelOrbis Shanghai