Liaoning Province-based Chinese steelmaker Benxi Iron and Steel (Group) Co. (Bengang Group) has announced that it has inked a memorandum of understanding (MoU) with South Korea-based company Dongkuk Steel Mill Co, Ltd (Dongkuk Steel) for the period of 2016-17. The agreement covers the purchase of Bengang Group’s hot rolled coil (HRC) and cold rolled coil (CRC) by Dongkuk Steel.
Dongkuk Steel is specialized in production of steel plates mainly for shipbuilding and in production of beams, sections and bars for construction, while its production also includes hot dip galvanized (HDG) and pre-painted galvanized iron (PPGI). Bengang Group has cooperated with Dongkuk Steel since 2004 and is the largest partner of Dongkuk Steel in China to date.