China stainless steel mogul fights to avoid a second collapse
A debt crisis is threatening the future of one of the world’s top stainless steel producers, Jiangsu Delong Nickel Industry.
Iron ore stockpiles at China’s 30 major ports fell 0.64 percent week-on-week to 94.74 million tons on Aug. 12, including 13.06 million tons of Indian iron ore stockpiles which fell 6.51 percent, according to Aug. 12 figures from Shanghai-based Mysteel Information.
The price of Indian iron ore grading 63.5 percent mostly stands between $186 to $187 per ton, down at least $1 from last week.
