On January 15, CNPC and Ansteel Group Corporation (ANSTEEL) signed a strategic procurement agreement in Beijing to carry out extensive exchanges and cooperation in strategic procurement, market assurance, information sharing and development. CNPC and ANSTEEL agree to promote collaboration in export trade, resources and market, technological R&D and application, business and logistics management, and research on lowest total lifecycle cost of material supply. The two sides also agree to share experiences and achievements in operation management, market research, material management, and process reengineering.