16
Oct
10:21
China's Shangang to sell Jinan steelworks to parent
Eastern China’s Shandong Iron and Steel (Shangang) has announced that it intends to sell its Jinan steelworks to its parent, Shandong Iron and Steel Group. The move continues its wider restructuring plan and its quest to return to profitability after years of worsening results, Kallanish notes.
Jinan Iron and Steel has been valued at CNY 12.82 billion ($2.02 billion), Shangang says. The plant has some 9 million tonnes/year of steelmaking capacity and produ…
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Anonymous
Very good overview of the weekly steel market.
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