20
Feb
07:59
Bofeng Steel sells capacity to Guangxi Steel
Xuzhou Bofeng Iron & Steel in Jiangsu Province has sold 700,000 tonnes/year of iron capacity to Guangxi Steel, a Guangxi Province-based subsidiary of steelmaker Liuzhou Iron & Steel (Liugang) Group, according to the Industry and Information Technology Department of Jiangsu.
The capacity was sold for CNY 186.7 million ($25.9m) through auction on Alibaba Asset in early January, CNY 500,000 higher than the starting price.
Kallanish notes that Bofeng shut dow…
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Very good overview of the weekly steel market.
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