28
Nov
10:39
Snowway Mining's auction breaks the price cap, triggering 3rd round bidding
The auction for a 54.2857% stake of Yajiang Snowway (Sinuoway) Mining Development restarted last week. A different mechanism with price caps set and make-up deposit required is applied this time in order to make the auction more effective. So far, the bidding price went above the cap price for the second round, which is CNY 600 million ($83.36m), and according to the new mechanism, a third round will be started soon.
According to the auction p…
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Very good overview of the weekly steel market.
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