teams up in bid to get new business has formed strategic alliances to try and attract independent buyers and sellers to its online steel exchange. iSteel, an online steel exchange, has signed memorandum of understandings with five strategic partners in an effort to try and attract business from someone other than major shareholder Van Shung Chong, a steel trading company. The 'deals' were announced earlier this week at a press conference complete with T-shirt clad cheerleaders and Olympian music.

The fanfare with which the announcement was made was not reflected in investor sentiment and iSteel's shares remain thinly traded at below...

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