06
Dec
08:18
Shagang purchases iron capacity from Delong Nickel
Chinese long steel producer Shagang says it will buy ironmaking capacity quotas from Jiansu Delong Nickel for the steel project of its Huaigang subsidiary.
The purchased capacity quota is for 1.385 million tonnes/year, at a purchase price of CNY 697.55 million ($109.45m) including tax, Kallanish notes. This means the purchase price per tonne/year of crude steel capacity is CNY 503.6. Shagang will transfer the money to Delong Nickel in three payments.
Accordi…
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