16
Oct
03:29
CITIC Pacific beats Shagang to win Nangang
The competition between CITIC Pacific Special Steel Group and Shagang Group for 60% of Nanjing Iron & Steel (Nangang) finally came to an end, as Shagang withdrew from its legal suit, Kallanish notes.
According to the exchange announcement, Shagang’s withdrawal was reached after a mediation presided over by the Jiangsu Provincial High Court. This finalises the victory of state-owned CITIC Pacific over privately-owned Shagang.
As part of the mediation agr…
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Anonymous
Very good overview of the weekly steel market.
Anonymous