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PRESS RELEASE: Shanghai Ganglian invests in India’s SteelMint

On November 27, 2019, Mysteel Global parent company, Shanghai Ganglian E-commerce Holdings Co. Ltd. (Ganglian), together with its existing business partner, Japan-headquartered Metal One, signed an investment agreement in India with the three founder shareholders of India's leading steel information company SteelMint.

Upon the signing of this agreement, Ganglian and Metal One will jointly hold 55% shares of SteelMint through their Hong Kong joint venture. In the Hong Kong joint venture, Ganglian holds a 55% stake and Metal One the balance.

Ganglian, SteelMint, Metal One

Through this investment, Ganglian will lend SteelMint its expertise in indexation, industrial data collection, analysis, research and modelling, as well as exploring business opportunities based on market intelligence. At the same time, the investment will enable Ganglian to have access to the market intelligence of the Indian market, the world’s second largest steelmaking country after China, thus complementing and solidifying its footprint in the market intelligence service.

The cooperation will also enable SteelMint to tap onto Metal One’s broad customer base, operational experience in both India and globally to accelerate its growth to become India’s top commodity market intelligence agency.

The data released from the World Steel Association, India's steel production in 2018 reached 106 million tonnes, surpassing Japan to become the world’s second largest steel producer. India is also leading the world in the growths of steel production and consumption. The upstream and downstream of India’s steel industry have the advantage of scale and distribution, similar to the early development stage of China.

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