CAPITAL MARKETS

Steel mill on hold

MAJOR Chinese steel producer Baosteel has reportedly postponed development of a $US1 billion steel mill in Brazil through a joint venture with CVRD because of rising costs.

Michael Quinn
Steel mill on hold

However AE Brazil quoted Baosteel’s Yu Zhonghai as saying the two companies had not given up on the partnership, though the report also suggested relations had frayed since CVRD lifted iron ore prices...

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