28
Apr
10:26
Zhongyuan Special Steel moves business focus towards finance
Zhongyuan Special Steel plans to purchase 100% of China Oil & Food Stuffs Corporation (COFCO) Capital which is worth CNY 21.19 billion ($3.35 billion), while it in turn will become part of COFCO Group. The backdoor listing means Zhongyuan Special Steel will become focused on agricultural finance, thus leaving its loss-making steel production at risk, Kallanish notes.
Zhongyuan Special Steel reported a CNY 256.51 million net loss in 2017, following a CNY 5.2m…
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Anonymous
Very good overview of the weekly steel market.
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