Beijing-based Chinese integrated steel trading and logistics services provider Minmetals Development Co. has announced that it plans to launch an e-commerce platform for the iron and steel industry within the current year.
Wang Jing, an analyst at China Federation of Logistics Purchasing, commented that Minmetals has an unique advantage among other competitors as its chain of warehouses will help it to lower logistics costs.
In a previous statement, Yao Ziping, general manager of Minmetals Development, has stated that, faced with the slowing domestic economy and uncertainty in the industry, steel enterprises should join together to share real-time information.