China s Anyang Iron & Steel plans mixed-ownership reform with Shagang Group Toggle share menu
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BEIJING/HONG KONG: China s AnYang Iron & Steel on Thursday said that its controlling shareholder has signed a letter of intent to conduct mixed-ownership reform with the country s top private steelmaker Jiangsu Shagang Group.
Shagang intends to become controlling shareholder of Anyang Iron and Steel Group after the reform, Anyang steel said in a filing on the Shanghai Stock Exchange.
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The global steel wire market size is projected to grow from USD 93.1 billion in 2020 to USD 124.7 billion by 2025, at a CAGR of 6.0% between 2020 and 2025.
Steel wires are demanded in various end-use industries including construction, automotive, industrial; due to their advantages properties such as high strength, conductivity, and durability. However, global pandemic disease COVID-19 has disrupted the operations of construction, automotive, and other industries which are expected to decrease the demand for steel wire in 2020.
The non-rope form is the fastest-growing form of steel wires, in terms of value.
The non-rope form steel wires find wide applications in various end-use industries. Some of the major applications include a wire for tires, hoses, galvanized wires and strands, ACSR strands, and armoring of conductor cables, springs, fasteners, clips, staples, mesh, fencing, screws, nails, barbed wires
Exclusive: Millions of Australia s tax and company files are being held by a Chinese-owned centre, with the Government agencies struggling to find a new home for its servers. As detailed yesterday, the Defence Department was told in 2016 by then treasurer Scott Morrison it had to look for alternatives after Global Switch (GSU) data centre was sold off to a Chinese data firm. There were fears Australia s sovereignty and secrets were at risk by the sell off, from a United Kingdom consortium to one in China, whose State hackers had already been targeting Australia s servers. But Defence only managed to remove some of its classified documents and was forced to re-sign two new multimillion-dollar contracts with the Chinese company for another five years from 2021, as it struggled to move all its assets out.
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