17
Jul
01:00
China detains official linked to Haixin loan
A deputy mayor of Yuncheng in China’s Shanxi province has been detained by authorities, according to local media. The move appears linked to a suspect loan to the now bankrupt local steelmaker, Haixin Iron and Steel, Kallanish notes.
Wang Jiankang was detained by the Shanxi Provincial Commission for Discipline Inspection in relation to a CNY 100 million ($16m) government loan to Haixin when the steelmaker began to have financial trouble in 2008. The in…
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Anonymous
Very good overview of the weekly steel market.
Anonymous