23
Nov
14:06
Hegang's South African steelworks put on hold
Hebei Iron and Steel (Hegang) will have to delay its plans to build a 5 million tonnes/year steelworks in South Africa until the market recovers, according to the Industrial Development Corporation (IDC). The plan is the largest ‘capacity transfer’ project for a Chinese steelmaker, Kallanish notes.
The original plan, agreed in 2014, was to begin with a 3m t/y first phase. Hegang acquired processing, and trading capacity in southern Africa when it bou…
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Very good overview of the weekly steel market.
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