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.
China steel giant set to default even after government help https://t.co/5EDCyvKxOu pic.twitter.com/P2hEByFpiD
— Thomas Biesheuvel (@tbiesheuvel) October 20, 2015
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