On May 29, Liaoning Province-based Chinese steelmaker Anshan Iron and Steel Group Co. (Ansteel) announced that it has signed a strategic cooperation agreement with Beijing-based China South Locomotive & Rolling Stock Corporation Ltd (CSR), which is the world's largest manufacturer of electric locomotives. The agreement will cover production, purchases and research and development relating to railway vehicles.
CSR has purchased approximately 50,000 mt of finished steel from Ansteel Group every year. According to the new agreement, Ansteel will acknowledge CSR as its most important customer in the field of railway vehicles, prioritizing supplies of finished steel products to CSR. Meanwhile, CSR will recognize Ansteel as its principal supplier of finished steel used in railway vehicles, and will purchase section steel, weather-resistant steel, steel used in axles, and other products from Ansteel. In addition, Ansteel Group will purchase railway vehicles from CSR for its own usage.