23
Oct
06:37
Chonggang re-runs assets auction with lower start price
The heavily-indebted Chongqing Iron & Steel (Chonggang) will hold another auction of assets starting at 10:00 on 25 October after a previous auction saw no bidders. The new auction is at a lower starting price and no longer includes the ironmaking and coke plants, according to the People’s Court Litigation Assets Website, Kallanish notes.
The announced start price is around 20% or CNY 1.02 billion ($154.82 million) lower compared with the las…
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Very good overview of the weekly steel market.
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