The completion ceremony for the Qingdao Puxiang stainless steel processing base was held in the Qingdao Economic & Technical Development Zone on 28 February. It marks the initial formation of the biggest steel products trading centre in the Eastern Chinese province of Shandong. The government of Puxiang District had signed an agreement with Qingdao Puxiang Stainless Steel Co Ltd to invite other companies to set up base in Qingdao. Five companies started construction during last January at an investment of USD 50 million and have already commissioned their facilities. These 5 companies are estimated to trade 200,000 tons of stainless steel every year.
