20
Jun
13:28
Rio picks Yancoal bid as spot prices slide
Rio Tinto has chosen Yancoal as the preferred bidder for its Coal & Allied division ahead of a rival bid by Glencore. Coking coal prices have been struggling recently however amid sinking Chinese prices and output, Kallanish notes.
Glencore had offered a deal which it said matched Yancoal’s and added $100 million in cash. "We believe Yancoal's offer to purchase our thermal coal assets for $2.45 billion offers the best value and greater transac…
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Anonymous
Very good overview of the weekly steel market.
Anonymous