20 February 2019

Baosteel eyes iron ore e-platform in Shanghai FTZ, paper says

Baoshan Iron & Steel Co. Ltd. (Baosteel) (600019.CN), China’s largest listed steelmaker, may set up an electronic platform for spot trading of iron ore in the Shanghai Free Trade Zone in cooperation with Shanghai Ganglian E-Commerce Holdings Co. Ltd. (300226.CN), the China Securities Journal reported Friday, citing an unnamed person in charge of the company’s e-commerce platform. The source did not say how much will be invested in the business or when it will be launched. The company has been aggressively expanding beyond traditional business and into e-commerce, the report said.

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