22
Jun
13:14
Hebei Fengda declares bankruptcy
On 18 June, the People’s Court of Hebei Province declared Hebei Fengda Iron & Steel bankrupt. Two days later, the court held the first creditors meeting, Kallanish notes.
On 17 April the company applied for bankruptcy liquidation for the first time, because of inability to repay debt. By the end of April, according to an audit, its debt totalled CNY 757 million ($110.21m), with assets of CNY 41.6m. The asset-liability ratio reached 1,819…
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Anonymous
Very good overview of the weekly steel market.
Anonymous