Jinan, Shandong Province-based Chinese state-owned steelmaker Shandong Iron and Steel Group Co. (Shandong Steel) has recently announced that it has reached a strategic agreement with Yantai City, Shandong Province-based Chinese large-scale enterprise Huaan Group to establish a joint venture company for deep processing and distribution of steel products.
The joint venture company with an annual capacity of 1 million mt will expand the market for the steel companies