20
Aug
01:00
ZhongChong invests heavily in new Shangang steelworks
Shanghai-headquartered China ZhongChong Group is reportedly investing CNY 2 billion ($313 million) in Shandong Iron and Steel’s (Shangang) Rizhao steelworks project. The state-owned commodities-focussed strategic investment fund has previously said it will support investments in African mining, Kallanish notes.
ZhongChong’s CNY 2 billion investment follows CNY 5 billion in non-public share issuances and CNY 1.8 billion in other financing for the …
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Anonymous
Very good overview of the weekly steel market.
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