16
May
09:35
TISCO purchases Xinhai to gain stable nickel supply
Taiyuan Iron & Steel (TISCO) plans to purchase Shandong Xinhai Technology Company (Xinhai) and its subsidiaries, it has announced on the Shanghai Stock Exchange. As Xinhai is a big nickel alloy producer in China, TISCO is expected to gain stable supplies of nickel alloy for its stainless steel production, Kallanish notes.
The purchase is currently undergoing audit. Xinhai is the second biggest supplier of raw materials to TISCO. It supplied 9.98% of TIS…
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