25
Sep
06:28
Chonggang debt weighs on restructuring
State-owned Chongqing Iron & Steel (Chonggang) has confirmed it holds CNY 35.35 billion ($5.36 billion) in debt. The company's administrators are still discussing restructuring proposals with creditors and potential investors.
In July Chongqing's First Intermediate People’s Court ordered the heavily indebted Chonggang to undergo a reorganisation after creditors brought a suit over defaults on scheduled payments. Over January to June Chonggang l…
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Anonymous
Very good overview of the weekly steel market.
Anonymous