On March 10, China-based Shenhua Materials Group signed a purchase agreement with Beijing-based Chinese steel trading company Baifu Xinglong Co. for more than 8,000 mt of finished steel with a contract value of RMB 30 million ($4.8 million), as announced by the State-owned Assets Supervision and Administration Commission of China's State Council on March 11.
The finished steel purchased includes common rebar, low-alloy medium plates, carbon steel sheet, weather-resistant steel plate, seamless steel pipe, common carbon steel channel and common carbon equal angles, which will mainly be used in Shenhua Group's work on infrastructure construction.