Bloomberg reported that Angang Steel Co the biggest Hong Kong traded steelmaker shareholders rejected an agreement to buy raw material and services from its parent for the 2012-2013 period.

According to a statement to the Shanghai Stock Exchange about 66% of stockholders voted against the accord with Anshan Iron & Steel Group.

The company said November 29 Angang Steel had agreed to buy iron ore from its parent at a 5% discount to the average spot price in the previous six-month period.

(Sourced from Bloomberg)