Baosteel(SH:600019) Xin Lang Cai Jing·2026-01-21 12:37Core Viewpoint - The signing of the partnership agreement among the three party branches marks a significant step towards enhancing collaboration in iron ore procurement, shipping, port operations, and talent development, aiming to improve logistics support and cost reduction capabilities for Baowu's bulk raw material supply chain [1][3][9]. Group 1: Partnership Agreement - On January 18, the first shipment of West Mangu iron ore arrived at Majishan Port, leading to the signing of a partnership agreement among Baowu's Raw Material Procurement Center, Baosteel Shipping Headquarters, and Shanghai Resources Iron Ore Business Party Branch [1][9]. - The agreement aims to strengthen party building and business collaboration, focusing on iron ore procurement, shipping, port operations, and talent cultivation [1][3]. Group 2: Supply Chain Integration - The establishment of a fully integrated supply chain for West Mangu iron ore to domestic steel mills highlights the increasing importance of Baowu's bulk raw material supply assurance [3][11]. - The three party branches will work together to mitigate supply and demand risks in the iron ore market, adhering to principles of mutual benefit, complementary advantages, and joint development [3][11]. Group 3: Goals and Initiatives - The partnership aims to enhance self-owned shipping capabilities, improve shipping service levels, maximize port efficiency, and increase throughput [3][11]. - Joint initiatives will include international talent development and training for professionals in international business, as well as collaborative projects to reduce logistics costs for bulk raw materials [3][11]. Group 4: Upgraded Collaboration Model - This partnership represents an upgrade from the previous "pairwise collaboration" model, aiming to leverage synergy as a driver for high-quality development and value creation [5][13]. - The agreement includes regular meetings, information sharing, and collaborative projects focused on improving throughput at Majishan Port and coordinating the procurement and transportation of overseas iron ore resources [5][13].