Masteel signs strategic cooperation agreement with Shanghai railway administration

Masteel signs strategic cooperation agreement with Shanghai railway administration: Anhui Province-based Chinese steelmaker Maanshan Iron and Steel Co. (Masteel) announced that it has signed an agreement with the Shanghai Railway Administration to cooperate in transport and logistics. The parties plan to cooperate to increase Masteel's logistics efficiency. As SteelOrbis previously reported, Masteel declined 5,93 billion 56,39 billion ($ 9,24 billion) in the first three quarters of the year, operating income and 329 million RMB (53,9 million) $ 1 million) (net loss). The company reported loss of RMB 3,14 billion ($ 514 million) in the first nine months of last year.