Minmetals industry goes global

By Emma Lam

The minmetals industry has seized the new opportunities, stepped up product R&D through transformation and upgrade, and developed overseas emerging markets.

Compared to previous years, an increasing number of minmetals enterprises are boosting their investment in R&D, design, brand and trademark registration. Enterprises have hired renowned foreign designers to work on products of varying style and functionality, established quality assurance systems, and striven to develop mid-to-high end independent brands.

In addition, some enterprises have developed new high added value products and increased the prices of new products to reduce the impact of tariffs.

From January to June 2019, the China Chamber of Commerce of Metals, Minerals & Chemicals Importers & Exporters reported an export volume of hardware and building materials totalling 79.94 billion USD, up by 3.7% year-on-year, with export unit price increasing by 12.3%.

Due to the Sino-US trade issue, the minmetals industry reported that export to the US in terms of volume and unit price were lower than the industry average. Since March this year, however, due to the US suspending tariffs, exports to the US have recovered slightly.

Buyers from emerging markets such as South America have gradually become the main force of the fair. As a result most building materials enterprises have a deeper understanding of the demands of expanding new markets overseas.

Enterprises mainly seek local agents to open up foreign markets by participating in overseas exhibitions, while some are making use of both cross-border and local e-commerce platforms to gradually establish their own marketing systems overseas.

People in the industry say they will continue to open up international markets through policy guidance in e-commerce platforms, foreign trade service platforms, and both domestic and overseas exhibitions.

People in the industry say they will continue to strengthen exchange with overseas industry, markets and enterprises, and open up international markets through policy guidance in cross-border e-commerce platforms, comprehensive foreign trade service platforms, emerging market cultivation, and both domestic and overseas exhibitions.

 strengthen exchange with overseas industry, markets and enterprises, publicize relevant foreign trade, foreign exchange, finance and industry for export enterprise policies, and enhance their own competitiveness. The are striving to open up international markets through diverse strategies, through policy guidance in cross-border e-commerce platforms, comprehensive foreign trade service platforms, emerging market cultivation, and both domestic and overseas exhibitions.