Baosteel, Samsung ink supply agreement
SteelOrbis Shanghai
According to Xinhua News Agency,
China's largest steelmaker Baoshan Iron & Steel (
Baosteel) reached a
shipbuilding product supply agreement with Samsung Heavy Industries (Samsung), second largest
shipbuilding company in South
Korea.
According to the agreement,
Baosteel will supply 100,000 metric tons
shipbuilding plate to Samsung throughout 2006.
In related news,
Baosteel signed long term hot rolled coil supply agreement with JFE Steel
Pipe Company last week.
Baosteel's focus on foreign markets alleviates pressures on domestic Chinese market.