Iron Ore Sales Business in China

Establishing a new sales structure in China, the world's largest importer of iron ore

In 2014, ITOCHU and Tewoo Group Co., Ltd., a major trading company in China, established TEWOO-ITC Global Trading Co. Ltd. This joint venture handles imports, processing, and sales of iron ore and other steel making resources.
ITOCHU Group (including overseas subsidiaries) has a 49% interest in the company and Tewoo Group holds 51% interest. This joint venture is marked as the first experience for a Japanese trading company to challenge selling iron ore in partnership with a Chinese state-owned trading company. It has been able to establish a value chain by reliably procuring iron ore and other materials through ITOCHU’s overseas network leveraging Tewoo Group’s mineral processing facilities and sales network in China. This has enabled the joint venture to effectively utilize raw materials of various qualities providing stable supplies of resources in China.

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