Baogang Group’s e-commerce platform promotes steel trading in N. China’s Inner Mongolia

Eight years on, the e-commerce platform launched by Inner Mongolia Baotou Steel Union Co., Ltd. (Baogang United Steel, 600010.SH), an A-share listing subsidiary of Baogang Group, has become the largest steel trading platform in terms of trading volume in North China’s Inner Mongolia, remarkably promoting steel trading in the region.

Operated in various mode, such as bidding transaction, spot trade and sunshine trade, the platform has become a major selling channel of iron ore, steel products and by-products for Baogang Group.

According to data provided by the platform, it has attracted 15 active sellers and over 2,000 active buyers to trade on the platform. In the recent three years, the platform has witnessed over 15,000 deals completed.

In the first half of this year, the trading volume of various products on the platform hit over 1.75 million metric tons, with the turnover at 6.6 billion yuan (about 976.8 million U.S. dollars).

As new products of Baogang United Steel are ready to sell on the platform, it is estimated that the annual trading volume of the platform will exceed over 4.2 million metric tons in 2022.

According to the operators, the platform will embrace upgrade to make it more digitalized and smart and push forwards sunshine trade mode, to provide comprehensive solution for clients.