Baogang Group subsidiary reports exports growth

Baotou Steel International Economic & Trading Co -- one of the main units of Baogang Group, which is also known as Baotou Iron and Steel Group -- has experienced a surge in exports, officials said.

It posted increased exports in the first three quarters of the current year, with 1.9 million tons of steel products sent abroad in the period, according to the Baotou Daily.

The figure represented year-on-year growth of 23 percent, they said.

Officials said that throughout the current year, in order to keep pace with international competitors, the company continued to improve and optimize its hot dip galvanized coil products.

They added that it has developed new materials and specifications to meet market demand.

According to the firm, the advantages of hot-dip galvanized products are long-lasting protection against corrosion and wide adaptability to the environment. They are widely used in electric power towers, communications towers, rail lines, highway protection, streetlight poles, marine components, building steel structural members and substation ancillary facilities.

The cold rolled steel products, launched in 2018, showed a year-on-year growth of 12 percent in exports, officials said.

According to Xin Fang, an official of Baotou Steel International Economic & Trading Co, last year, Baotou Steel products entered the Japanese market for the first time, telling customers it was willing undertake Japanese two-party certification.

This year, the company carried out the certification of Japanese-standard products.

Company officials said that to date, new orders have reached several hundred tons.

During the first three quarters of 2019, the company exported steel products to 57 countries, including 48 countries involved in Belt and Road Initiative. The total export value hit $915 million, showing a year-on-year growth of 2.51 percent.

A steel production workshop owned by Baogang Group, the largest steel company in Inner Mongolia autonomous region [Photo/Baotou Daily]