17
Oct
07:16
Shagang prepares to buy Nanjing Steel: sources
Jiangsu Zhangjiagang-based Shagang Group is expected to buy a 60% stake in Jiangsu Nanjing Iron & Steel (Nangang), which is controlled by Fosun Group, sources suggested on Monday. If the deal closes, Shagang would become China's second-largest steel group by crude steel output.
A steel mill source familiar with Shagang tells Kallanish the rumour began to circulate last week, and details are beginning to emerge as the news is confirmed. "…
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Anonymous
Very good overview of the weekly steel market.
Anonymous