25
Sep
15:29
Baosteel suspends Tsingshan Indonesian nickel lines acquisition: report
Chinese steel giant Baosteel has suspended plans to acquire the Indonesia-based nickel assets of Chinese nickel giant Tsingshan, according to Caixin.
The downturns in both the steel and nickel industries since late 2022, as well as the major leadership change at Baosteel earlier this quarter, have reportedly led to the suspension of the deal. The transaction had not been officially announced but was said to be planned for completion this year.
Neither Baowu nor T…
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