Angang Steel

Angang Steel Company (Hong Kong stock code 0347.HK) produces steel products, including hot rolled products, cold rolled products, medium plates and other products.

There is a suggestion that steelmakers do not see the present industry recovery as sustainable. Photo: Xinhua

Angang Steel to sell loss-making plants to parent Anshan

Angang Steel has agreed to sell two loss-making steel plants to its parent in exchange for cash and a profitable trading business, the second move in a week aimed at shoring up its bottom line hurt by weak demand growth and industrywide overcapacity.