SteelOrbis reported that Chinese state owned shipbuilding conglomerate China State Shipbuilding Corporation has signed an agreement with Chongqing based Chinese steelmaker Chongqing Iron and Steel Co for the purchase of 1 million tonne of shipbuilding steel in 2013 for approximately CNY 10 billion
Currently CSSC purchases around 2 million tonne of shipbuilding steel per year buying 960,000 million tonne from Chongqing Steel Group in the January November period of the current year with Chongqing Steel expected to supply over 50% of CSSC's total annual shipbuilding steel purchases this year.
In the first 11 months of the year the shipbuilding steel output of Chongqing Steel Group amounted to 1.7995 million tonne constituting the largest output in the domestic shipbuilding steel sector in the given period.
