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BMC develops its presence in Africa

Steel News - Published on Mon, 17 Dec 2018

Image Source: belsteel.com
Management Company of “BMC” holding”, plans to increase the shipment of reinforcing bar and wire rod to the Republic of Senegal. Relevant agreements were signed during the visit of BSW specialists to Senegal. Under conditions of the observed “trade wars” on the world steel market, the Byelorussian Metallurgical Works tends to strengthen its export diversification.

One of the directions of this work is promotion of Belarusian steel products to African market. For this purpose specialists of BSW visited countries of West Africa – Senegal and Ghana last week, where they negotiated with consumers and processors of rolled metal products. The visit to Senegal was most effective, concrete agreements on supplies for 2019 were signed with importing companies of wire rod and reinforcing bar. For example, if this year volume of exports of BMZ reinforcing bars to Senegal is expected to be at the level of 3000 tons, in 2019 according to the reached agreements it is planned to be increased by several times.

Some results were reached during the visit to Ghana, where BSW specialists with the support of representatives of Embassy of the Republic of Belarus in Federal Republic of Nigeria and concurrently to the Republic of Ghana, held series of meetings in the Chamber of Commerce and Industry and the Ministry of Industry and Trade of the country.

At the present moment the share of African countries is 8.4% in the total volume of BMZ exports. Belarusian steel products are supplied to 15 countries of this continent. The leaders in its consumption are Egypt, Algeria, Senegal, Sudan and Mauritania. During 10 months of 2018 BMZ exported steel products to Africa in amount about $ 89.5 million dollars, that is 157% year- on- year.

Total export of OJSC “BSW - Management Company of “BMC” holding”in January -October 2018 amounted 1.66 million tons of steel products with amount over a billion US dollars, which has already exceeded the total index of 2017 by $ 50 million. In volume terms the growth rate to the same period of 2017 is 107.6%, in money terms – 131.5 %.

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Posted By : Nanda Koijam on Mon, 17 Dec 2018
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