On August 20, Chinese steel producer Shougang Tonghua Iron and Steel Co., Ltd, a subsidiary of Shougang Steel Group and the largest integrated steelmaker in China's Jilin Province, signed a strategic agreement with the domestic energy enterprise Xinhua Energy Group regarding supply of steel.
According to the agreement, Xinhua Energy will supply necessary goods and materials to the local government of the city of Tonghua in Jilin for its construction projects, while Shougang Tonghua Steel will supply steel products and other materials to Xinhua Energy. The agreement envisages supply of RMB 5 billion ($816 million) worth of steel from Shougang Tonghua Steel to Xinhua Energy.
Source:
http://www.steelorbis.com/steel-news/latest-news/shougang-tonghua-steel-inks-steel-supply-deal-with-xinhua-energy-777996.htm
