16
Apr
06:59
Xinggang forced to auction steelmaking capacity
China’s Xingtai Iron & Steel (Xinggang) in Hebei Province plans to auction 400,000 tonnes/year of its steelmaking capacity quota online, Kallanish notes.
The auction was not operated by Xinggang. The auctioneer, the People's Court of Huli District, Xiamen City, stated that the production capacity corresponds to the mortgaged steelmaking capacity involved in a case of unpaid debts. The assets were previously frozen by Xinggang.
However, the equipment…
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Anonymous
Very good overview of the weekly steel market.
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