Steelinvest and Chinese steel producer Delong Steel have established a joint venture, named Ziming SG Global, to focus on marketing mill export sales. The Joint venture, based in Dubai, is led by Fred Hayrapet of Steelinvest Group.
The company will primarily target semi-finished and finished steel products across long and flat products. Hayrapet emphasized that the joint venture will concentrate on regions where Chinese steel is in demand, particularly as the industry faces increasing trade barriers in certain markets, reported Argus media. The partnership aims to ramp up its export capacity, targeting a volume of 5 million tonnes per year over time.
Delong Steel, with a production capacity of 30 million tonnes per year spread across 11 mills (five of which are fully integrated), seeks to enhance the global marketing and export efficiency of its steel products through this new venture.
Additionally, Delong holds a majority stake in Indonesia’s Dexin Steel Group, which has recently begun exporting hot-rolled coil and slabs to major markets such as Europe.
Meanwhile, Steelinvest currently markets over 3.5 million tonnes of steel and raw materials annually.