12
Oct
04:19
Baowu plans to cut 16m t/y steel capacity
Baosteel and Wuhan Iron and Steel (Wugang), which will become Baowu Group when their merger is complete, plan to cut 16 million tonnes/year of steelmaking capacity over 2016 to 2018. Most of this resource however has not been active for some time. Baosteel and Wisco, Wugang's listed arm, saw share prices dip slightly Wednesday but remain higher than before the merger announcement, Kallanish notes.
According to the capacity elimination targets Baosteel and Wi…
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Anonymous
Very good overview of the weekly steel market.
Anonymous