23
Oct
07:07
Hebei Xingang's capacity auction triggers crisis for company
In late September, Xingang Iron & Steel's 960,000 tonnes/year of steel-making capacity and 650,000 t/y of ironmaking capacity were sold through the Alibaba auction platform. This means that Xingang will dismantle half of its production equipment and dismiss half of its workers. It may also cause the steel mill to become insolvent and eventually face bankruptcy, Kallanish notes.
With a capacity of more than 2 million tonnes/y…
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Anonymous
Very good overview of the weekly steel market.
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