Hebei Province-based Chinese steelmaker Hansteel, a part of major Chinese steel producer HBIS Group, has signed a strategic cooperation agreement with Shanghai-based truck maker SAIC Hongyan, which indicates that the steel for automobile production produced by Hansteel has gained wider recognition in the auto industry, as announced by HBIS Group.
Hansteel sold 2.69 million mt of steel to the automotive industry in 2018, up 3.4 percent year on year, while selling 194,000 mt in January of the current year.