Wuhan Iron and Steel Co., Ltd. : The Successful Delivery of WISCO First Overseas Order of Reduced Iron Powder

The Successful Delivery of WISCO First Overseas Order of Reduced Iron Powder

On January 14, 2014, the vessel loaded with 100250I reduced iron powdersailed off to Korea, marking the reduced iron powder has successfully gone global. The delivery of first overseas order has seen the exportation of both WISCO powder metallurgy products and service marketing mode.

Since the crisis in steel industry in recent years, the domestic consumption demand of iron powder has continuously declined. The price competition became heated among the peers in the industry of reduced iron powder. Due to the sluggish market, the atomized iron powder with higher purity at a lower price squeezed the market share of reduced iron powder. All in all, the sales of reduced iron powder were confronted with enormous setbacks.

In response to the adverse domestic market, Powder Metallurgy Branch of Metal Resources Co. Ltd., WISCO has quickly changed its strategy to explore diversified channels and expand global market, taking the exportation of reduced iron powder as the key strategy and operation direction of upgrading the corporate image and integrating into global market. The quality and sales volumes of WISCO powder metallurgy products have been at the top in China for a long time. However, we failed to export the products all the time. In the mid of 2013, Powder Metallurgy Branch received the price inquiry and order from overseas. Under the circumstances that there were four competitors and the company hadn¡¯t acquired the import and export certification, we remained confident and overcame all difficulties to seize the precious opportunity.

To ensure the reduced iron powder meet international requirements, the company took quick action on writing the proof of quality and safety specification and heading for Guangzhou Entry-exit Inspection and Quarantine to apply for the import and export certification. Besides, the company kept close communication and coordination with relevant intermediary inspection agency and commodity inspection agency legally authorized by State Administration for Entry-Exit Inspection and Quarantine. The preparation for exportation has taken almost half a month.

Through many rounds of discussion and negotiation, Powder Metallurgy Branch has finally signed purchase contract for 100250I reduced iron powder with a Korean metallurgy company. It¡¯s the first time that WISCO sold the reduced iron powderoverseas and it has laid a solid foundation for the further exportation of reduced iron powder. It¡¯s known that so long as the client is satisfactory with the products in the first delivery, more orders will follow in the future.