trending Market Intelligence /marketintelligence/en/news-insights/trending/ZrebjHVueluVgIAS-9FSVw2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

China's Dongbei Special Steel misses 2nd bond payment

Essential Metals & Mining Insights - August 2020

State of the Market: Mining Q2-2020

Report Outlooks of Lithium and Cobalt

Essential Metals & Mining Insights July 2020


China's Dongbei Special Steel misses 2nd bond payment

Dongbei Special Steel Group Co., a Chinese steelmaker based inthe country's Liaoning province, defaulted on its bonds for the second time in asmany weeks, Bloomberg News reported April 5.

The company said it missed payment on 1.01 billion Chinese yuanin principal and interest on notes due the same day. The 90-day commercial paperwith a principal of 1 billion yuan and 6% coupon was issued in January.

This comes after Dongbei, whose chairman, Yang Hua, was founddead at home in March, recently failedto make an 852 million yuan payment on a bond.

Rising inventory levels and the general downturn in the steelsector were blamed for the missed payment.

The same report also noted that Chinacoal Group Shanxi HuayuEnergy Co. said it may miss a 637.7 million yuan payment on bonds due April 6, whileiron ore miner Zibo Hongda Mining Co. defaulted on notes in March.

As of April 5, US$1 wasequivalent to 6.47 Chinese yuan.