Baosteel conducts yuan-denominated deal with Rio Tinto
SHANGHAI, May 12 (Xinhua) — Baoshan Iron & Steel Co., Ltd., known as Baosteel, on Tuesday said it has recently made its first yuan-denominated iron ore purchase worth over 100 million yuan (about 14.1 million U.S. dollars) with Australian mining giant Rio Tinto. The subsidiary of China Baowu Steel Group Corporation Limited said the cross-border Renminbi (RMB) settlement was supported …
Read More
China Baowu’s crude steel output world’s largest in 2019
SHANGHAI, March 4 (Xinhua) — Steel giant China Baowu Steel Group announced Wednesday that it surpassed the Luxembourg-headquartered ArcelorMittal to become the world’s largest producer of crude steel in 2019. Baowu’s annual production of crude steel reached 95.22 million tonnes last year, compared to the figure of 89.8 million tonnes reported by ArcelorMittal in its 2019 annual report. Formed by …
Read More