Basetrade Global’s CEO, Francis Zadan, attended the China Iron Ore 2012 event in Beijing with colleagues from 27-29 February 2012. The conference addressed the major challenges and opportunities facing professionals working with, or within China during its twelfth Five-Year Plan Period.
For Basetrade Global, as an event sponsor, this was an excellent opportunity to promote its own business supplying direct-reduced iron (DRI) via its partners in the Middle East and to spearhead its drive to create opportunities to supply this raw material to steel producers.
Chinese steel manufacturers produced 683.3 million tonnes of steel or 46% of the global total in 2011. “Our belief is that initial upfront investment in technology associated with DRI will be recouped in future energy savings and reduced costs of production,” commented Dr Zadan.