久久亚洲国产成人影院-久久亚洲国产的中文-久久亚洲国产高清-久久亚洲国产精品-亚洲图片偷拍自拍-亚洲图色视频

 
Home> Latest News

New model to tackle excessive steel capacity

Updated: 2013-12-24 09:24
By Du Juan ( China Daily)
Comments() Print Mail Large Medium  Small 分享按鈕 0

New model to tackle excessive steel capacity

Tangshan Iron and Steel Group Co Ltd is leading the effort to go abroad as the country's steel and iron industry struggles with overcapacity, reports Du Juan from Tangshan, Hebei province

Against the background of the overcapacity problem in China's steel industry, Deutsche Bank AG said last Monday that it has, together with Duferco SA, an international steel dealer, arranged an $800 million structured prepayment term loan facility for Tangsteel in Tangshan, an industrial city in northeastern Hebei province.

It is the largest structured commodity trade financing facility ever completed for a Chinese company.

"Like Tangsteel, there are many strong and active players in the steel industry in China that continue to contribute to its economic growth. This round of financing is meant to support Tangsteel's export of high-end cold rolled steel products," said Frank Wu, regional head of structured commodity trade finance, Asia-Pacific, for global transaction banking at Deutsche Bank.

He said increasing exports of steel products from such Chinese companies can help utilize the capacity in the domestic market.

Behind this comprehensive and supportive cooperation among the international bank, steel trader and the Chinese steelmaker is a "smart model" for making full use of the advantages of each party to survive the market, said Zhang Tieshan, a senior analyst from steel information provider Mysteel.com.

"There are various ways for Chinese steel companies to go abroad in addition to just selling products," he said.

In March, Tangsteel acquired a 10 percent stake in Switzerland's Duferco International Trade Holding, the world's biggest steel trader, as a start to deepening its cooperation in multiple methods in the international market.

At that time, the two companies signed a steel products structural payment agreement worth $1.2 billion, which gave Tangsteel a relatively more stable channel to sell its products abroad in the face of a gloomy domestic market.

"This global strategy is the key to Tangsteel's development," said Yu Yong, president of Tangsteel and also newly named president of Hebei Iron and Steel Group, Tangsteel's parent company, earlier this month.

Hebei Iron and Steel Group, HBIS for short, is the largest steel company in the country by output.

"The cooperation with Duferco has eased Tangsteel's financial pressure and increased the diversification of its marketing channels," said Yu.

He added that the cooperation will help provide Tangsteel with better financial services and access to resources such as raw materials from international iron ore giants.

"The internationalization is to make the best use of resources globally, especially good existing platforms and business models," he said.

Over the past year, Duferco's steel trade volume was more than 16 million metric tons, equal to the total output of HBIS.

Through its distribution channels, steel products can be sold to 28,000 end customers in European, North American and South American markets.

By cooperating with Duferco, Tangsteel's exports during the first 11 months of this year increased by 96 percent year-on-year to 2.79 million tons, according to data from the company.

For the same period last year, Tangsteel's export figure was 1.42 million tons.

Yu estimated that the figure will reach 4 million tons in 2014.

In 2009, when the two companies had just started cooperation, Tangsteel's exports to Duferco was only 67,000 tons.

Previous Page 1 2 Next Page

Survey & Comments

| About us | Contact |

Constructed by Chinadaily.com.cn

Copyright @ 2012 Ministry of Culture, P.R.China. All rights reserved

主站蜘蛛池模板: 97精品在线视频 | 黄色三级视频在线 | 亚洲欧洲一区二区三区在线 | 久久视频在线免费观看 | 久草视频在线播放 | 久久五月女厕所一区二区 | 岛国在线永久免费视频 | 亚洲视频一区在线观看 | 欧美在线观看视频一区 | 日本免费不卡在线一区二区三区 | 欧美一区二三区 | 综合另类 | 一级aaaaaa毛片免费同男同女 | 欧美性生交大片免费看 | 国产黄色在线网站 | 毛片大全免费 | a一级| 欧美一级毛片兔费播放 | 欧美成在线播放 | www午夜| 日韩一区二区久久久久久 | 亚洲一区视频在线 | 日本特级淫片免费 | 免费一级做a爰片久久毛片 免费一级做a爰片性色毛片 | 另类专区国产在线视频 | 美女张开腿让男人桶爽免 | 中文国产成人精品久久一 | 91久久国产综合精品女同国语 | 国产精品大全国产精品 | 美女张开腿让男人桶爽动漫视频 | 国产欧美一区二区精品性色 | 一区二区三区亚洲 | 日韩三级欧美 | 女人张开腿让男人桶视频 | 国产一区二区三区久久精品小说 | 免费在线观看一区 | 国产精品自拍在线观看 | 欧美另类极品 | 在线成人免费 | 欧美激情久久久久久久久 | 亚洲午夜一区二区三区 |