28
May
01:00
Chonggang owner keeps selling shares
Chongqing Iron and Steel Group Company has sold another 5% stake in Chongqing Iron and Steel (Chonggang), reducing its holding to 48.05%. It is the third sale in the last two months as the group restructures and prepares to invest in a new steelworks, Kallanish notes.
The share sales have led analysts to suggest that the Group is raising capital to invest in its recently approved joint venture with Korea’s Posco. This would see a 3 million tonnes/year …
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Anonymous
Very good overview of the weekly steel market.
Anonymous