Angang to reduce steel export in H2 year on year basis

It is estimated that Angang's steel export will reduce to 20% of the total sales in the second half of 2007 and that for the whole year is expected to slightly rise. Besides, it said there was no substantial progress on the consolidation between its parent Angang Group and Bengang Group.

During the first half of 2007, Angang exported steel of 1.82 million tons with average unit price rising by 425 yuan per ton to 4,395 yuan.

The average sales price was 4,200 yuan per ton during the first half of the year, up from 3,580 in the same period last year. The company is expected to produce over 1.6 million tons each for pig iron and steel in 2007.