Chongqing-based Chinese steel producer Chongqing Iron and Steel Co. (Chongqing Steel) has announced that it has inked a framework agreement regarding sales and purchases with Guangdong Province-based Qianxin E-commerce Co., Ltd (Qianxin). The agreement is expected to boost Chongqing Steel’s sales volumes and to reduce its financial pressures.
Accordingly, the two sides will establish cooperation in the fields of raw material purchases and finished steel product sales. The cooperation between the two sides is effective as of January 1, 2017 and will end on December 31, 2019.