On November 29, major Chinese steelmaker Hebei Iron and Steel Group announced that its subsidiary Hebei-based Wuyang Iron and Steel Co. (Wuyang Steel) has extended its cooperation agreement with Beijing-based Chinese oil and gas company
China Petroleum and Chemical Co. (Sinopec). Wuyang Steel has become the first steel supplier to renew its contracts with Sinopec since 2011. Earlier in November, Wuyang Steel was approved by Sinopec as a supplier of steel plates for application in containers.