China's second-biggest steelmaker secures yuan-denominated iron ore deal with Vale

Hebei Iron and Steel Group (HBIS), also known as Hesteel Group, has secured a yuan-denominated contract to buy iron ore from Vale, China's second-biggest steelmaker said this week.

The contract was signed on Monday January 20 according to an announcement on the HBIS website on Thursday, and is worth around 200 million yuan ($29 million).



Alex Theo

January 23, 2020

11:06 GMT