19
Nov
02:36
Sangang pays $254m for Laiwu Xinjiang capacity quotas
Eight companies participated in the 16 November on-line auction on the Shandong Property Rights Exchange Centre for Laiwu Steel Xinjiang’s capacity quota. The 1.22 million tonnes/year of iron and 1.35m t/y of steel capacity was finally sold at CNY 1.814 billion ($254 million), CNY 1.174 billion higher than Laiwu Xinjiang's initial offer, Kallanish notes.
According to the internal documents of the Shandong Property Rights Exchange Centre, the …
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Very good overview of the weekly steel market.
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