Iron Ore Sales Business in China

Building 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.
The ITOCHU Group (including overseas subsidiaries) has a 49% interest in the new company, and the Tewoo Group holds a 51% interest. This joint venture marks the first time a Japanese trading company has sold 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 and leveraging the Tewoo Group’s mineral processing facilities and sales network in China. This has enabled the joint venture to effectively utilize raw materials of various grades and provide a stable supply of iron ore in China.

[Photo]

[Photo]