16
Jul
01:00
Valin sets to raise funds for plate, rod, energy investments
China’s Hunan Valin Steel plans a non-public share issuance to raise CNY 4.2 billion ($677 million) for use in a number of investments. These will see the company upgrade its plate and wire rod output, and increase its energy self-sufficiency as well as boosting annual profits by up to CNY 900 million, Kallanish notes.
The investments will leave the Shenzhen-listed company more than 70% self-sufficient in electricity. CNY 1.16 billion will be spent tak…
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Anonymous
Very good overview of the weekly steel market.
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