On September 6, Inner Mongolia-based Chinese steelmaker Baotou Iron and Steel Co. (Baogang Group) announced that in the January-August period of the current year its finished steel exports amounted to 810,000 mt, up 18 percent year on year, worth a value of $480 million. The steel producer stated that it has increased its focus on the international market in response to the sluggishness in the domestic steel market.

In addition, Baogang said that its finished steel export target for the whole of the current year is 1.2 million mt, which would represent a 20 percent increase compared to its finished steel export volume last year.