Recently, Jinyu Jidong International Trade and Mechel, Russia's largest mining and metal company, signed a memorandum of understanding on Russian coal supply in Shanghai. Mechel will supply 3 million tons of thermal coal to BBMG Jidong International Trade in the next year. This is another effort of BBMG Jidong International Trade to actively seek breakthroughs and actively expand strategic cooperation with global coal mines under the circumstances that the domestic coal market is in short supply and the seller's market is in short supply.
Mechel has the largest and highest quality coal storage base in Russia, and is the largest coking coal supplier and the top three thermal coal suppliers in Russia, as well as the top five coal suppliers in the world. The signing made the company the largest thermal coal partner in China for two consecutive years, with trade volume increasing by 50% year on year.
This memorandum is the first annual long-term agreement signed by Mechel Mine in Russia in 2017, which has attracted wide attention in the industry and has been reported by many media. The successful signing of the agreement marks that Jinyu Jidong International Trade has been recognized by the first-line coking coal mines in the world, and the cooperative relationship between the two sides has been further consolidated, which provides a good guarantee for the company to stabilize the upstream supply of goods, occupy the market share, purchase high-quality coal at a high price, and lays a foundation for the development and growth of the company's coal import business. It also marks that Jinyu Jidong International Trade has become a strong participant in the international market.
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