On November 30, the management agreement entrusted by Majishan Port Area, Bayi Iron and Steel Mining and Meishan Mining to on Baosteel Resources was signed in Shanghai, Xinjiang and Nanjing at the same time, marking a further step for Baosteel Resources to professionally integrate the whole process of Baowu Steel bulk raw material and fuel system.

Baosteel Resources, Baosteel Transportation Department, Bayi Iron and steel and Meisteel signed the entrustment management agreement through the way of "on-site cloud signing".

Since July 2018, Baosteel Resources has successively completed the trusteeship of Zhoushan Wugang, WISCO Resources, Masteel Mining, Masteel International Trade and CULines. The joining of the three units of Majishan Port Area, Bayi Iron and Steel Mining and Meishan Mining will further enhance Baosteel Resources' business scale and market position, enhance the competitiveness of China's Baowu Steel bulk raw material fuel system and the ability to serve the steel ecosystem, and provide more solid raw material system guarantee for Baowu Steel, with 100 million tons of raw materials.