It is reported that Liaoning based Chinese steelmaker Benxi Iron and Steel Co Ltd has made new progress in developing its overseas market.

As per report, six types of auto surface plates, totaling 120 tonnes passed the verification tests of Saipa Group, one of Iran top three automobile groups. Benxi Iron and Steel Co Ltd have signed an agreement with Saipa to provide 16,000 tonnes auto surface plates every quarter. This is the first time Benxi Steel high level auto surface plates will be exported in large batches, demonstrating that the company has advanced its auto plate development and production ability and is gaining recognition in the overseas market.

Benxi Steel has recently continued to upgrade its products and modify its international market structure with a focus on the European and South American markets. Also, the company has focused on new markets in Southeast Asia. It has signed an export agreement for 13,000 tonnes of HR pipe with Hyundai Hysco.

Based on a plan centered on the South Korean market, Benxi is exerting greater efforts in exportation to new economic units in Southeast Asia. It has signed an export contract with India for HR products, and has signed an export contract for about 6,000 tonnes of pipeline steel to a country in the Middle East.

Benxi Steel will also export products to some Southeast Asia regions such as the Philippines and Malaysia. Besides, the company is also targeting the South American market. Rio de Janeiro in Brazil is holding the Olympic Games in 2016 and Benxi Steel estimates there may be massive demand on iron and steel products, and so it is seeking the chance to sign HRC and galvanized steel contracts with Brazil.

Sourced from Source: SteelOrbis

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