Tuesday, October 20, 2015

Large China Steel firm to default


Continued bearish development in the steel sector.  This will probably help them get around anti-dumping rules as they will say they are liquidating assets under some sort of foreclosure instead of dumping.
A Chinese state-owned steel trader is set to default on a bond payment even after the government was said to have stepped in to help, highlighting worsening corporate finances as an economic slowdown deepens.

Business as unusual at the People's Steel Company.


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