Hyundai Heavy slashes Chinese steel supplies

Hyundai Heavy Industry signed trade agreements for ship plate supplies with 13 Chinese steel enterprises including Baosteel, Ansteel, Bensteel etc last year, but this year the Korean giant only has three Chinese steel industry partners as a result of the gloomy shipbuilding market at present. Meanwhile, other Korean shipbuilding enterprises such as Samsung Heavy Industries, Daewoo Shipbuilding, STX etc also reduced cooperation with Chinese steel enterprises this year.