TIMAL signs MoU with Jiangsu Shagang Group
January 28, 2014
Jiangsu Shagang Group, one of the top 10 steel groups in the world and the biggest private steelmakers in China, invited Mr Sava Popovic, General Manager, Tata International Metals Asia Limited (TIMAL), Mr Hong Chan Kim, Korea Country Manager, and Mr Alex Chen, China General Manager, to attend its Annual Conference in Xiamen.
On January 9, 2014, during this conference, Shagang and TIMAL signed a Memorandum of Understanding for the supply of 150,000MT steel products in the year 2014. Shagang management extended their gratitude to TIMAL’s support over the years and expressed hope for further growth of the partnership.
This is the second agreement between the two organisations. In 2013, TIMAL successfully exported 130,000MT of steel for Shagang to become the second largest exporter of the steel manufacturer, up four places from the sixth position in 2012. This is a big achievement, especially in times of extreme market difficulties in these few years.
TIMAL’s relationship with Shagang spanning 20 years has flourished under the continuous hard work of Mr Kim and Mr Han , who ventured to import Shagang’s High Carbon Wire Rod to the market 11 years ago to become the second biggest HCWR supplier in the country after Posco.
Seamless support from the China team helped foster the relationship with the mill. Close cooperation of MrChen and Ms Sandra Gu with Shagang’s senior management and staff helped to grow the business. TIMAL now trades in products ranging from long products to various flat products such as hot rolled coil, hot rolled plate and cold rolled coil,and is expanding to markets such as Taiwan, Tunisia, USA, Vietnam, Costa Rica and Japan.
Tata International Metal’s (TIM) senior management, Mr Ramesh Mani, Mr John Caouki and Mr Popovic have strongly supported the business. They visited Shagang in Zhangjiagang in October 2013 showcasing TIL’s sincerity and aspiration to be one of their best trading partners in the world.
The combination of Shagang’s spreading international office network and new production lines coming on stream this year and TIM’s strong sales and sourcing teams at work in Asia and other regions could achieve a lot in the coming years. The Metals business traded 400,000MT of steel in 2013, with China accounting for almost 90 per cent of the Asian sourced metal. Chinese sources are key to steel business and Shagang’s support to the Metals business is thus essential.