05
May
10:20
Adani buys Australian steel in political play
India’s Adani has agreed to buy all the rails for the 400km line it is building for its Carmichael coal project from Australia’s Arrium for around $54 million. Arrium which is currently being sold after falling heavily into debt, has received support from many of the same politicians which have been dubious about the Carmichael project, Kallanish notes.
The 54,000-tonne order is an important sign of support for the ailing Australian steelmaker. Adani…
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Anonymous
Very good overview of the weekly steel market.
Anonymous