09
May
08:59
Hunan Steel invests in Valin Pipe
Hunan Iron & Steel Group, the former Valin Iron & Steel Group, has invested CNY 1 billion ($149 million) in Hengyang Valin Steel Pipe. It has now become one of only two investors in Valin Pipe other than the listed Valin Steel Company, Kallanish notes.
Hunan Steel Group and its subsidiary Valin Steel now hold 14.09% and 85.91% interest in Valin Pipe respectively. The registered capital of Valin Pipe has also been lifted from CNY 3.75 billion to 4.36 b…
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Very good overview of the weekly steel market.
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