11
Nov
00:00
Loss-making Shangang speeds up capacity expansion
Eastern China’s loss-making Shandong Iron and Steel (Shangang) says it plans a non-public share issuance in order to raise cash to speed up construction of its 8.5 million tonnes/year Rizhao steelworks project. The company hopes the new site will help it return to profitability. It has said however that even this year’s 40% drop in iron ore costs was not enough for it to turn a profit so far in 2014, Kallanish notes.
The company said it would rai…
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Anonymous
Very good overview of the weekly steel market.
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