06
Sep
06:37
China’s Xining Special Steel to cut 500,000 t/y capacity
China’s northwestern Qinghai province plans to cut 500,000 tonnes/year of steelmaking capacity over three years. All of this target will be accomplished by debt-ridden local state-owned enterprise Xining Special Steel within 2016, Kallanish notes.
Xining Special Steel is owned by the local government of Qinghai province and was named by Bloomberg earlier this year as the Chinese company most likely to default on bonds by the end of 2016. It halte…
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Anonymous
Very good overview of the weekly steel market.
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