08
May
03:06
HBIS auctions off ironmaking capacity
Xuanhua Iron & Steel (Xuangang), part of the HBIS (Hegang) Group, has auctioned off ironmaking production capacity of 250,000 tonnes/year through the Hebei government's Public Resources department, Kallanish notes.
Xingtai Iron & Steel won with a bid at CNY 145 million ($21.4 million), or CNY 580 for each tonne/year of capacity. In addition to this, Xuangang has another 310,000 t/y of ironmaking quota under approval to auction off.
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