On June 29, Hunan Province-based Chinese steelmaker Hunan Valin Steel Co. signed an agreement with Beijing-based CNPC Materials Co., subsidiary of China Petroleum & Chemical Corporation (Sinopec Corp), according to which both sides will cooperate with each other, especially in the reciprocal provision of oil products and high quality steel.
In the first quarter of the current year, Hunan Valin Steel's steel product output in the first quarter of this year totaled 578,000 mt, while its steel product exports amounted to 445,000 mt.