The Wuhan Iron and Steel Corporation (WISCO), China’s first giant state owned iron and steel company and now the fourth largest steel maker in the world, has begun exports of reduced iron powder.
The company stated that earlier this month a shipment of reduced iron powder was delivered to a customer in Korea, marking the first international export of WISCO’s Powder Metallurgy products and laying a solid foundation for further exports of the company’s reduced iron powder.
Since the crisis in the steel industry in recent years, domestic consumption demand for its iron powder in China has declined, stated WISCO, “Atomised iron powder with higher purity at a lower price has squeezed the market share of reduced iron powder. The sales of reduced iron powder have been confronted with enormous setbacks.”
“The quality and sales volumes of WISCO Powder Metallurgy products has been at the top in China for a long time. However, we failed to export the products. In the middle of 2013 the Powder Metallurgy Branch received a price inquiry and order from overseas. Under the circumstances that there were four competitors and the company hadn’t acquired the import and export certification, we remained confident and overcame all difficulties to seize this precious opportunity,” stated WISCO.