A ‘steel mall' is to be established in Dongguan city's Wanjiang district, in Guangdong Province, China, which will encompass integrated services relating to steel including financing, processing, stocking, distribution, electronic trading and engineering.
Costing a total investment of RMB 225 million, the new steel mall will provide 5,000 new jobs. Annual tax payments from the steel mall are expected to reach RMB 180 million. Insiders expect that the steel mall will enable buyers of steel in Dongguan city to keep a closer eye on changes in steel prices, thereby ensuring a certain reduction in local steel price levels.