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25 Sep

Baosteel suspends acquisition of Tsingshan's Indonesian nickel lines: report

Chinese steel giant Baosteel has suspended the Indonesia-based nickel-related acquisition deal with Chinese nickel giant Tsingshan, according to Chinese media Caixin.  The downward trends of both steel and nickel industries since late 2022, as well as the major leadership change of Baosteel in this quarter, have reportedly led to the suspension of deal. The transaction hadn’t been officially announced but was said to be made this year.  So far, ne…
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