India’s leading market intelligence provider in the iron and steel sector, SteelMint Info Services LLP, on November, 27, 2019, signed an investment agreement with its Chinese counterpart, Shanghai Ganglian E-commerce Holdings Co. Ltd. (Ganglian), and the latter’s Japanese business partner, Metal One Corporation.
Shanghai Ganglian is part of China’s Multi-Billion Dollar Fosun Group and Metal One is a part of Japanese behemoth Mitsubishi Corporation.
Upon signing of this agreement, Ganglian and Metal One will jointly hold 55% shares of SteelMint through their Hong Kong joint venture.
Through this investment, SteelMint is poised to benefit from Ganglian’s expertise and experience in indexation, industrial data collection, analysis, research and modelling, and this will allow it to explore at a greater depth the Chinese steel industry. This would further align SteelMint’s commodity price assessments in tune with the global best practices and standards.
The cooperation will also enable SteelMint to tap into 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.
Mysteel is the world’s leading independent provider of data and market intelligence on the Chinese metals and mining industry. Its parent company, Shanghai Ganglian E-commerce Holdings Co. Ltd., is a leading professional bulk commodities e-commerce company and has offices in more than 30 locations across the world.
Metal One Corporation (Metal One), established in 2003, is a company jointly owned by Mitsubishi Corporation (MC) and Sojitz Corporation (formerly Nissho Iwai Corporation). With a sales network of over 140 offices and subsidiaries around the world, Metal One builds a value chain connecting steel manufacturers and customers by providing integrated services that range from distribution, inventory and manufacturing to processing, in addition to sales of steel products.