On November 11, Chinese steelmaker Shandong Iron and Steel Group announced that on November 1 it officially established Shandong Iron & Steel Group International Trading Co. Ltd.
By means of the new subsidiary, Shandong Steel Group will boost the consolidation of its overseas raw material purchases and its finished product export activity. The new subsidiary will also be responsible for managing iron ore inventories at ports and for overseas financing.
Source:
http://www.steelorbis.com/steel-news/latest-news/shandong-steel-group-establishes-international-trading-subsidiary-794441.htm
