Steel trader Steelinvest and Chinese producer Delong Steel have established a joint venture (JV) named Ziming SG Global to market mill export sales. Located in Dubai and headed by Fred Hayrapet of Steelinvest Group, the company will focus on semi-finished and finished steel across long and flat products.
Delong, with a production capacity of 30 million tons per year across 11 mills, aims to increase export efficiency and global marketing through this organization. It holds a majority stake in Indonesia's Dexin Steel Group, which has started exporting hot-rolled coil and slab into major markets such as Europe.
Steelinvest currently markets over 3.5 million tons per year of steel and raw materials. The JV aims to scale up to 5 million tons per year of exports over time.
