06
Apr
06:06
Shagang rejects Nangang's breach of contract
The takeover of 60% of Nanjing Nangang Iron & Steel United Co. (Nangang United) by privately-owned Chinese steel giant Jiangsu Shagang Group has been stalled by the sudden entry of CITIC Group to the competition. Shagang is not giving up on the acquisition however.
Shagang will continue to conduct acquisition in a "market-oriented and legalized" manner. Sources familiar with Shagang said that the steel mill has issued a letter requesti…
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Anonymous
Very good overview of the weekly steel market.
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