11
Sep
01:00
Shangang divesifies and targets financial profits
Eastern China’s Shandong Iron and Steel (Shangang) plans to establish a new financial subsidiary in the southern city of Shenzhen as part of its plan to diversify into more profitable sectors. A return to profit for the group is also bolstering its development of new low-cost coastal steelmaking capacity, Kallanish notes.
The company, provisionally called Shangang Financial Holdings (Shenzhen), will have a registered capital of CNY 2 billion ($313.7 mi…
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Anonymous
Very good overview of the weekly steel market.
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