21
Dec
07:46
Baowu takes over Sinosteel
The State-owned Assets Supervision and Administration Commission (SASAC) of the State Council of China has announced that China Baowu Group will reorganise with Sinosteel Group and directly acquire it. Sinosteel Group is thus no longer directly controlled by SASAC.
Sinosteel had suspended operations in 2016 and filed for bankruptcy in 2021 due to excessive debt, Kallanish notes. The slump in commodity markets in 2014 put the group's operations i…
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Very good overview of the weekly steel market.
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