04
Feb
09:37
TISCO Stainless to acquire stake in major customer
Shanxi Taiyuan Iron & Steel Stainless Steel (TISCO Stainless) will acquire a 20% stake in Taiyuan Heavy Industry Transit Equipment Co (Taizhong Transit) for CNY 548 million ($84.8m).
Kallanish meanwhile learns that TISCO Stainless will ensure its product sales through an offtake contract with Taizhong Transit. The latter will purchase at least 70% of its billet and slab requirements from TISCO. The transactions will be conducted at market prices…
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Anonymous
Very good overview of the weekly steel market.
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