Jiangsu Shagang Group, one of China’s largest private steel producers, announced it is to set up an overseas headquarters in Singapore in an effort to expand its overseas market.

The headquarters would serve as a centre of the group’s international procurement, sales and service and also target new product development.

The company says its goal is to export more than 20% of its products, the equivalent of about 6Mt, annually within the next three to five years.

In 2012, exports of its high-grade steel products surged 74% year on year to 3.03Mt.

Source: China Metals e-mail infochn@public.bta.net.cn