WA iron ore giant Fortescue Metals Group will shore up trade relationships with China's biggest steel companies by signing eight memorandums of understanding with steel mills on the sidelines of the China International Import Expo.
In a statement Fortescue announced it would sign MOUs with both public and private steel mills across the country, including China's largest steel group Baowu, which received the company's first cargo of ore 10 years ago.
It will also sign an MOU with Hebei Iron and Steel Group, China’s second-largest steel company.
While the MOUs don't have an immediate commercial impact, FMG chief executive Elizabeth Gaines said it reaffirmed the company's commitment to its customers and demonstrated its presence in China.
