22
Oct
01:00
Chonggang nets $57 million from CRC line
Financially-troubled steelmaker Chongqing Iron and Steel has sold a loss-making cold rolling mill, including land and associated assets, for Yuan 720 million ($112m). It will only see however a net gain of around half of that amount from the sale, the company says. The move is part of an attempt to return the Shanghai-listed company to profitability through one-off sales and investments, Kallanish notes.
The 500,000 tonnes/year 1,727mm-wide CRC line was comm…
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Anonymous
Very good overview of the weekly steel market.
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