30
Nov
09:55
Chonggang hit by multi-million dollar lawsuit during restructuring
Chongqing Iron & Steel Group has recently become involved in a lawsuit involving arrears of CNY 1.93 billion ($280.1 million), and has another ten similar cases in process, according to the Shanghai Stock Exchange. Chonggang is undergoing company restructuring by divesting major steel assets and replacing these with financial businesses (see Kallanish passim).
The steelmaker has CNY 35.968 billion in debts according to its third quarter report. Over Q1-Q3 20…
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Anonymous
Very good overview of the weekly steel market.
Anonymous