08
Apr
11:23
Thirteen Chinese steelmakers receive $482m in 2015 subsidies
Thirteen listed Chinese steelmakers received CNY 3.12 billion ($481.7 million) in government subsidies in 2015, according to the Securities Daily. With the weak steel market still pushing most of these firms into loss, the subsidies may only trap more steel companies in a cycle of failure, Kallanish notes.
While government subsidies to these steelmakers increased 25.3% to CNY 3.12 billion in 2015, the firms themselves turned from a CNY 5.62 billion profit in 201…
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Anonymous
Very good overview of the weekly steel market.
Anonymous