Chinese steelmaker Chongqing Iron and Steel (Chongqing Steel) has announced that it has signed an agreement to supply steel products to southern Chinese shipbuilder Guangzhou Shipyard International Co. in 2011.
Cooperation between the two companies began more than 10 years ago, and 90 percent of the steel products used by Guangzhou Shipyard International are now supplied by Chongqing Steel. The steelmaker's output of
shipbuilding plate in 2010 reached 1.7 million mt, increasing by 80 percent on year-on-year basis.
According to Chongqing Steel chairman Dong Lin, in 2011 the company aims to produce and sell two million mt of
shipbuilding steel, including 1.9 million mt of steel plate and 100,000 mt of section steel.