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.
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.
Disclaimer: Mysteel uses the most accurate and
unbiased sources of information for its content and opinion, but reserve the
rights to make any changes.
The information provided is for customer’s reference only and not an official recommendation. Any decision made based on the published information is on the user’s own judgement and responsibility. Mysteel takes no responsibility in any decision made.
The copyright of this report belongs to Mysteel, which is a non-public material. It is only for the use by Mysteel's customers. This report is edited by Mysteel. If you need to use it, please contact 86-21-2609 3490 for authorisation. Without the written authorisation from Mysteel, dissemination, publication or copy this report in any form is not allowed.