16
May
06:13
Daye Special Steel takes control of Zheijang tubemaker
On 16 May, China’s Daye Special Steel (Daye) announced that it is participating in the reorganisation of the bankrupt Zhejiang Gross Seamless Steel Tube Company (Gross). It is promising to spend CNY 492 million ($71.54m) to assist the recovery process, Kallanish notes.
Gross was declared bankrupt on 10 April 2018. Following the recovery process Daye will have control of the tubemaker. Gross is one of only few companies in China having the technology t…
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Anonymous
Very good overview of the weekly steel market.
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