Dongbu Steel to Increase Export by 35% in 2010

South Korean steel maker, Dongbu Steel announced on Monday the steel export will increase by 35% to 1.48 million tonnes in 2010 from 2009. The export to Asia, which represents around half of the export, increases by 52% to 730,000 tonnes. The firm increases the hot rolled coil export by utilizing the hot strip mill launched in 2009. The firm tires to expand global market development through potential new sales offices and investment projects in India, Brazil and other emerging market after the firm launched sales office in Vietnam in September.

The export value will increase by 49% to US$ 1.37 billion in 2010 from 2009. The export increases by 60% to 80,000 tonnes to Japan and to about 2.2 times at 410,000 tonnes to Southeast Asia. The export to North America increases by 82% to 400,000 tonnes including 243% higher export at 240,000 tonnes to Central and South America. While the export to Europe, Commonwealth of Independent States and Africa decreases by 13% to 350,000 tonnes, the export doubles to 40,000 tonnes to CIS.

The hot rolled sheet export increases by 825% to 370,000 tonnes in 2010 from 2009. The export of galvanized sheet increases by 14% to 480,000 tonnes while the export decreases by 36% to 70,000 tonnes for cold rolled sheet, by 5% to 200,000 tonnes for colored sheet and by 3% to 290,000 tonnes for tin plate.

Dongbu Steel targets annual 10 million tonnes of raw steel output in future compared with current 3 million tonnes based on the electric furnace steel making. The firm seeks growth through wider global network to develop emerging countries.