Troubled Jiangsu Delong to change owners soon

The third largest Chinese stainless steel maker with capacities in Indonesia, Jiangsu Delong Nickel Industry, is expected to change ownership due to its inability to pay debts.

Rumors about Delong’s debts and bankruptcy risks have been circulating in the Asian market for the last several months after the company reported losses in Q4 2023. Previously this year, the company was forced to sell 100% shares in two of three assets in Indonesia, while just 30% was left in the third one. Continue Reading? Please click box below!