20
Oct
01:00
Shigang relocation gets banking boost, capacity cut
Hebei Iron and Steel (Hegang) subsidiary Shijiazhuang Iron and Steel (Shigang) seems all set to relocate by 2017 after signing a cooperation agreement with the China Construction Bank. The agreement is worth Yuan 9 billion ($1.47bn), and also confirms the end of Shigang's expansion plans. This is because once Shigang is relocated, capacity at its new site will be slightly lower than the capacity that is due for closure at its former site, Kallanish notes.
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Anonymous
Very good overview of the weekly steel market.
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